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 (29526)	5/15/1999 11:20:00 AM
From: Magnatizer	Read Replies (1) of 79260

Market Magnets 4.17.99 notes Dow: Weekly hold rating. Mids toppy and turned down. The key for me this week will be the 10769 tline. If it is broken a test of the 10408 utrend is likely. If that tline fails a trip to the set of three is in the picture. Veterans of magnets will recall the set of three as being the channel for the dow from Nov 98 to Feb 99 and the top of the set was the bottom of the final dip in March prior to the run we are seemingly completeing. IOW, they are quite significant. Nasdaq: Weekly hold rating. Mids have been tracking in a downtrend and are in the middle to bottom of their range. I would call them neutral/weak. The cross on the 24th could actually be considered to occur on the 21st but whats a weekend between friends. 2330 is the cross area. 2497 is the key mag on the nas IMO. SP500: Weekly hold, near sell. 1337 utrend is the newest mag tline cross uptrend. It held as support Friday and it certainly has short term significance. SP tried to recover 86 line several times Friday afternoon and each was met with selling. Not a good sign and a trip to the 85 line is likely here. Nas 100: Weak weekly buy. I don't trust it but its there. Reversal after sniff of 2260 utrend last week did not send out good vibes and I think it is ready to see 1975 again. Russel 2k: Did not even stick around to test the 452.2 mag. Not good. Mond Tues Wed Thurs Fri DOW 30 Close 10913 day prior Monday Friday (if sloped) 9651 -1262 9651 9651 9651 9651 9747 9768 -1166 9752 9758 9763 9768 Top of Set of Three 9905 -1008 9905 9905 9905 9905 10158 -755 10158 10158 10158 10158 10411 -502 10411 10411 10411 10411 10408 10449 -505 10418 10429 10439 10449 Not Mag but very key 10679 -234 10679 10679 10679 10679 10769 10834 -144 10785 10802 10818 10834 Newest mag tline 10947 34 10947 10947 10947 10947 11239 326 11239 11239 11239 11239 Nasdaq Close 2528 day prior Monday Friday 2055 -473 2055 2055 2055 2055 Strong 2271 2279 -257 2273 2275 2277 2279 2316 -212 2316 2316 2316 2316 2324 2330 -204 2326 2327 2329 2330 12.23.94 to 10.20.95 2344 2331 -184 2341 2338 2334 2331 2463 2467 -65 2464 2465 2466 2467 2497 -31 2497 2497 2497 2497 2578 2593 50 2582 2586 2589 2593 2623 2632 95 2625 2628 2630 2632 8.2.96 to 11.8.96 2655 127 2655 2655 2655 2655 2745 2780 217 2754 2763 2771 2780 2812 284 2812 2812 2812 2812 2970 442 2970 2970 2970 2970 3127 599 3127 3127 3127 3127 3210 682 3210 3210 3210 3210 SP500 Close 1338 day prior Monday Friday 1162 -176 1162 1162 1162 1162 1204 1205 -134 1204 1205 1205 1205 1223 -115 1223 1223 1223 1223 1259 1260 -79 1259 1260 1260 1260 85 Line 1278 1279 -60 1278 1279 1279 1279 1300 -38 1300 1300 1300 1300 1317 1321 -21 1318 1319 1320 1321 1337 1339 -1 1338 1338 1339 1339 New Mag Tline cross 1344 1345 6 1344 1345 1345 1345 86 Line 1366 1372 28 1368 1369 1371 1372 1411 1422 73 1414 1417 1419 1422 1430 1431 92 1430 1431 1431 1431 1447 109 1447 1447 1447 1447 1593 255 1593 1593 1593 1593 NDX Close 2125 day prior Monday Friday 1888 -237 1888 1888 1888 1888 1975 -150 1975 1975 1975 1975 Strong 2030 -95 2030 2030 2030 2030 2084 -41 2084 2084 2084 2084 2177 52 2177 2177 2177 2177 2269 144 2269 2269 2269 2269 2260 2283 135 2266 2272 2277 2283 2362 237 2362 2362 2362 2362 2454 329 2454 2454 2454 2454 ht david

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