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Strategies & Market Trends : Point and Figure Charting

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To: james ball who wrote (15085)	3/6/1999 2:03:00 PM
From: James Strauss	Read Replies (1) of 34817

Tom: While I'm taking advantage of this short term psychological rally, I'm concerned that only the Dow has made new highs that haven't been confirmed by the other averages, especially the Transports... decisionpoint.com The Transports have formed a Symetrical Triangle pattern... decisionpoint.com These formations usually resolve in the direction of the trend... So, we are very close to an upside or downside breakout... My guess is that the overall market will follow the direction of this breakout... Also, the A/D line near its all time lows... decisionpoint.com It is beginning to look more like a blowoff top formation... I'm keeping a tight 10 day MA stop as a signal to move to the sidelines... Until then, enjoy... : > Jim

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