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 (28923)	5/3/1999 12:18:00 AM
From: Magnatizer	Read Replies (2) of 79230

Market magnets 5.3.99 notes Dow: Weekly buy in tact. Friday touch of 10947 and 10679 neutral zone was quite a ride. 10600 utrend is key this week. Its failure (end of day) will likely be the straw that broke the camels back. Nasdaq: Weekly buy here. A mag tline I do not publish held last week. It failed Thursday and was regained Friday. The reason I have not published this type of mag tline is I have not worked with it as much as I would like prior to making public. It is a connection of mag tline cross days. The tlines of note which meet this criteria are 2449 and 2541 utrend. Best news on Nas is the fill of the GAP to 2489 Friday. I like a mini rally this week on nas to the 2600 key utrend. SP500: Weekly buy here. Mag tline crossover next Monday the 10th. Lost 86 line Friday, needs to regain quickly. 1341 utrend is 86 line value this week. I like SP to hold up through at least Friday. 1350 utrend is a mag tline cross style. Nas 100: Weekly buy here. I like it to make on last run at 2204 untrend this week. 13 CCI (standard) on weekly scale did not regain "jailbreak" dtrend last week and has a ominous looking H&S formed. I am going to use the QQQ as my hedging vehicle against my mutual fund longs I will hold through the correction which appears to be somewhat imminent starting within 3-8 days. Mond Tues Wed Thurs Fri DOW 30 Close 10789 day prior Monday Friday (if sloped) 9651 -1138 9651 9651 9651 9651 9905 -884 9905 9905 9905 9905 10158 -631 10158 10158 10158 10158 10326 10360 -463 10335 10343 10352 10360 10411 -378 10411 10411 10411 10411 10600 10670 -189 10618 10635 10653 10670 10679 -110 10679 10679 10679 10679 10947 158 10947 10947 10947 10947 11239 450 11239 11239 11239 11239 Nasdaq Close 2543 day prior Monday Friday 2055 -488 2055 2055 2055 2055 2250 2259 -293 2252 2255 2257 2259 2311 2318 -232 2313 2315 2316 2318 2316 -227 2316 2316 2316 2316 2374 2363 -169 2371 2369 2366 2363 2454 2458 -89 2455 2456 2457 2458 2497 -46 2497 2497 2497 2497 2541 2557 -2 2545 2549 2553 2557 2600 2609 57 2602 2605 2607 2609 2655 112 2655 2655 2655 2655 2667 2699 124 2675 2683 2691 2699 2812 269 2812 2812 2812 2812 2970 427 2970 2970 2970 2970 3127 584 3127 3127 3127 3127 3210 667 3210 3210 3210 3210 SP500 Close 1335 day prior Monday Friday 1162 -173 1162 1162 1162 1162 1201 1202 -134 1201 1202 1202 1202 1223 -112 1223 1223 1223 1223 1256 1257 -79 1256 1257 1257 1257 1275 1276 -60 1275 1276 1276 1276 1300 -35 1300 1300 1300 1300 1308 1311 -27 1309 1310 1310 1311 1341 1342 6 1341 1342 1342 1342 1350 1356 15 1352 1353 1355 1356 1380 1391 45 1383 1386 1388 1391 1428 1430 93 1429 1429 1430 1430 1447 112 1447 1447 1447 1447 1593 258 1593 1593 1593 1593 NDX Close 2136 day prior Monday Friday 1888 -248 1888 1888 1888 1888 1975 -161 1975 1975 1975 1975 2030 -106 2030 2030 2030 2030 2084 -52 2084 2084 2084 2084 2177 41 2177 2177 2177 2177 2204 2226 68 2210 2215 2221 2226 2269 133 2269 2269 2269 2269 2362 226 2362 2362 2362 2362 2454 318 2454 2454 2454 2454 ht david

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