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 (27494)	3/20/1999 12:52:00 PM
From: Magnatizer	Read Replies (2) of 79173

Market magnets 3.22.99 OT: Those who send PMs and other requests will likely not get a response this weekend. Personal circumstances will keep me from working to much. Notes Higher lows and higher highs seem to be the rule of the indexes to finish the week. Still bullish but there are a few warning shots being fired after Fridays weakness. Dow: Mids 2/3 down, 1/3 up (rate neutral). Weekly buy confirmed. Third test of 10.28.97 to 1.12.98 utrend (theoretical data, 10062 on table) is still in session. The 9905 neutral zone break will give us a clue as to what the dow wants to do with this utrend. I am watching for a day where the low/high for the day is above/below 9905. This will be a signal for the intermediate term (2-3 week) direction of the market. A break up will likely lead to a break of the utrend and a run to 11k area. A break down will likely see a bottom in the low to mid 9500s. I will treat early week weakness as a buying opportunity. Nasdaq: Mids 1/3 flat, 2/3 down (neutral rating). Weekly hold rating. The break of 2437 utrend (most recent magnet utrend) is a warning shot and this tline must be recovered quickly. A break north of that tline gives a target in the mid 2500s. A break down from here could get ugly. 2270 utrend would be first target, likely see 2055 if it really got nasty. SP500: Mids 1/3 up 2/3 down (neutral). Weekly buy rating. Sitting right at important mag uptrend 1301. This is a similar situation to the Nasdaq in that this it the newest mag tline. It needs to remain in control of the index or a return to the 85 line is likely (1245). Targeting mid 1400s on a breakout. NDX: Mids 2/3 flat, 1/3 down (neutral). Weekly hold. Easier to follow IXIC here as I have more tlines to read with . Mond Tues Wed Thurs Fri DOW 30 Close 9904 day prior Monday Friday (if sloped) 8980 -924 8980 8980 8980 8980 9366 9385 -538 9371 9376 9380 9385 9398 -506 9398 9398 9398 9398 9398 9426 -506 9405 9412 9419 9426 9534 9558 -370 9540 9546 9552 9558 9651 -253 9651 9651 9651 9651 9905 1 9905 9905 9905 9905 10062 10102 158 10072 10082 10092 10102 10105 10167 201 10121 10136 10152 10167 10158 254 10158 10158 10158 10158 10411 507 10411 10411 10411 10411 Nasdaq Close 2421 day prior Monday Friday 1846 -575 1846 1846 1846 1846 1910 -511 1910 1910 1910 1910 1973 -448 1973 1973 1973 1973 2055 -366 2055 2055 2055 2055 2191 2199 -230 2193 2195 2197 2199 2270 2275 -151 2271 2273 2274 2275 2316 -105 2316 2316 2316 2316 2437 2473 16 2446 2455 2464 2473 2497 76 2497 2497 2497 2497 2539 2548 118 2541 2544 2546 2548 2655 234 2655 2655 2655 2655 2970 549 2970 2970 2970 2970 SP500 Close 1299 day prior Monday Friday 1116 -183 1116 1116 1116 1116 1162 -137 1162 1162 1162 1162 1190 1191 -109 1190 1191 1191 1191 1223 -76 1223 1223 1223 1223 1247 1248 -52 1247 1248 1248 1248 1266 1267 -33 1266 1267 1267 1267 1282 1286 -17 1283 1284 1285 1286 1301 1312 2 1304 1307 1309 1312 1300 1 1300 1300 1300 1300 1332 1333 33 1332 1333 1333 1333 1411 1413 112 1412 1412 1413 1413 1447 148 1447 1447 1447 1447 NDX Close 2054 day prior Monday Friday 1800 -254 1800 1800 1800 1800 1888 -166 1888 1888 1888 1888 1975 -79 1975 1975 1975 1975 2030 -24 2030 2030 2030 2030 2084 30 2084 2084 2084 2084 2177 123 2177 2177 2177 2177 ht david

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