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 (28532)	4/17/1999 12:53:00 PM
From: Magnatizer	Read Replies (2) of 79227

Market magnets 4.19.99 notes: Dow: Weekly buy rating. Mids 2/3 up, 1/3 down all in "overbought" areas. Short term techs look to have reset and a turn up monday is likely to signal a strong week. 3 day RSI near paste area. Nasdaq: Weekly buy rating. Mids all down. Short term techs pointing down in "oversold" area. Lack of bounce Friday is another warning shot. 2578 is the key tline. 2402 dtrend is most recent mag tline and it should hold the first time its tested if the weakness continues. SP500: Mids all down. Weekly buy rating. Short term pointing down in "oversold" area. 1253 is 85 line utrend. Needs to regain footing soon, as in by Monday close. 1339 is key mag tline which needs to be recaptured. Nas 100: Mids all down. Weekly buy rating. 2145 utrend acted as resistance Friday. Warning shot! R2K: Weekly buy confirmed. Base spoken of last week appears to be ending and a break to the upside appears to be in the cards. I like the R2K to be the leading index this week. Overall: Very mixed again. Nasdaq, SP500 both appear ready to breakdown. Dow and R2K appear ready to move up strong. Weekly buys on all but they are a long term indicator which has some lag. So, what to do? I like long trading positions here. I will not enter any longer term trades/holds here. Mond Tues Wed Thurs Fri DOW 30 Close 10494 day prior Monday Friday (if sloped) 9467 9487 -1027 9472 9477 9482 9487 9500 9518 -994 9505 9509 9514 9518 9628 9650 -866 9634 9639 9645 9650 9651 -843 9651 9651 9651 9651 9905 -589 9905 9905 9905 9905 10158 -336 10158 10158 10158 10158 10230 10262 -264 10238 10246 10254 10262 10411 -83 10411 10411 10411 10411 10424 10493 -70 10441 10459 10476 10493 10679 185 10679 10679 10679 10679 10947 453 10947 10947 10947 10947 Nasdaq Close 2484 day prior Monday Friday 2055 -429 2055 2055 2055 2055 2230 2238 -254 2232 2234 2236 2238 2297 2303 -187 2299 2300 2302 2303 2316 -168 2316 2316 2316 2316 2402 2390 -82 2399 2396 2393 2390 2497 13 2497 2497 2497 2497 2578 2587 94 2580 2583 2585 2587 2589 2621 105 2597 2605 2613 2621 2655 171 2655 2655 2655 2655 2812 328 2812 2812 2812 2812 2970 486 2970 2970 2970 2970 3127 643 3127 3127 3127 3127 3210 726 3210 3210 3210 3210 SP500 Close 1319 day prior Monday Friday 1162 -157 1162 1162 1162 1162 1197 1198 -122 1197 1198 1198 1198 1223 -96 1223 1223 1223 1223 1253 1254 -66 1253 1254 1254 1254 1272 1273 -47 1272 1273 1273 1273 1299 1303 -20 1300 1301 1302 1303 1300 -19 1300 1300 1300 1300 1339 1340 20 1339 1340 1340 1340 1354 1365 35 1357 1360 1362 1365 1423 1425 104 1424 1424 1425 1425 1447 128 1447 1447 1447 1447 1593 274 1593 1593 1593 1593 NDX Close 2086 day prior Monday Friday 1888 -198 1888 1888 1888 1888 1975 -111 1975 1975 1975 1975 2030 -56 2030 2030 2030 2030 2084 -2 2084 2084 2084 2084 2145 2169 59 2151 2157 2163 2169 2177 91 2177 2177 2177 2177 2269 183 2269 2269 2269 2269 2362 276 2362 2362 2362 2362 2454 368 2454 2454 2454 2454 ht david

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