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 (29151)	5/6/1999 3:30:00 AM
From: Doug R	Read Replies (1) of 79225

David, "SP500: Regained 86 line. If it can hold tomorrow we are likely to see up through Mondays tline cross." That's a mag tline...right?? I know that you're aware of it but I'll review it again for the thread...the days that see trend line crosses are statistically more likely to mark a change in direction. Magnet trend line crosses are usually more significant than price trend line crosses in that respect. Trend line crosses can be seen on a chart well before they occur since the lines are in place due to past activity. With magnet trend lines it has been observed that the weeks preceding a cross often leads to a run up in price (on both individual stocks and the indexes) that ends on the day of the cross. I had not previously considered the cross you refer to while I have been leaning heavily toward an oncoming correction. I have 13, 8, 8 stoch, 13 dRSI and 21 dCCI crosses occuring in the next few days. It looks like the large money is prepared to discontinue support of the current trend if the economic numbers on Friday aren't suitable. We're at the "hard right edge" of the chart here. Doug R

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