The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Magnatizer who wrote (27010)	3/5/1999 11:33:00 PM
From: Magnatizer	Read Replies (1) of 79183

Market magnets 3.8.99 notes dow: Well, in no uncertain terms new all time highs are bullish. All mid term technicals in my system are turned up. Weekly still hold rating. Looks to return to the 9965 utrend, which, sorry to say, is not a mag utrend. But its been so darn good I leave it in with the mags. Its anchors are the lows of 10.28.97 to 1.12.98. Last two attempts to break through (Nov 98 and Jan 99) were rejected. Its stiff resistance. It crosses a mag utrend (9931 utrend) between Thurs and Friday of this week. Will see what a little tango between a important mag utrend and a normal utrend produce... Nasdaq: Weekly still hold. Midterm techs 2/3s up 1/3 flat. Has not broken out of its short term dtrend. Watching closely for signs of tech leadership coming back to the market. Not apparent yet. SP500: Weekly hold. Midterm techs 2/3 up 1/3 flat. Day one of holding above 85 line a complete success. Also regained the uptrending channel I spoke of last Friday. 3 more days of base/advance desired, I am marking my calendar with big red Vs. Overall, still feeling cautious here. Mond Tues Wed Thurs Fri DOW 30 Close 9736 day prior Monday Friday (if sloped) 8561 -1175 8561 8561 8561 8561 8980 -756 8980 8980 8980 8980 9310 9335 -426 9316 9323 9329 9335 9346 9370 -390 9352 9358 9364 9370 9398 -338 9398 9398 9398 9398 9476 9497 -260 9481 9487 9492 9497 9651 -85 9651 9651 9651 9651 9905 169 9905 9905 9905 9905 9931 10008 195 9950 9970 9989 10008 9965 10002 229 9974 9984 9993 10002 10158 422 10158 10158 10158 10158 Nasdaq Close 2337 day prior Monday Friday 1846 -491 1846 1846 1846 1846 1910 -427 1910 1910 1910 1910 1973 -364 1973 1973 1973 1973 2055 -282 2055 2055 2055 2055 2171 2179 -166 2173 2175 2177 2179 2255 2261 -82 2257 2258 2260 2261 2316 -21 2316 2316 2316 2316 2497 160 2497 2497 2497 2497 2516 2525 179 2518 2521 2523 2525 2655 318 2655 2655 2655 2655 2970 633 2970 2970 2970 2970 SP500 Close 1275 day prior Monday Friday 1116 -159 1116 1116 1116 1116 1162 -113 1162 1162 1162 1162 1186 1187 -89 1186 1187 1187 1187 1223 -52 1223 1223 1223 1223 1244 1245 -31 1244 1245 1245 1245 1263 1264 -12 1263 1264 1264 1264 1279 1283 4 1280 1281 1282 1283 1300 25 1300 1300 1300 1300 1328 1329 53 1328 1329 1329 1329 1411 1413 136 1412 1412 1413 1413 1447 172 1447 1447 1447 1447 most important mag tlines not a mag tline ht david

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