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 (29926)	5/30/1999 10:31:00 PM
From: Magnatizer	Read Replies (2) of 79230

Market Magnets 6.1.99 Mondays value on mag spreadsheet are actually last Fridays values so Tues is actually tues even though we are not trading Monday. notes Dow: Weekly hold. 10482 utrend is the key to watch early this week. It needs to hold as support if we are going to bounce. Nasdaq: Weekly hold but very, VERY near sell. 2338 is key utrend which must hold if tested. SP500: Weekly sell signal. Tline cross Tues at 1436. I see no bias as to what the cross is likely to produce. The bounce off the 1281 utrend last week leaves me feeling a mini rally (traditional for week following memorial day weekend) is highly probable. Nas 100: Weekly sell signal. Though I have sell signals (weekly) on 2 of the 4 indexes tracked in the market mags I still like to wait for verification of one week of trading. Many times signals can be reversed after they are given but if they are verified over one or two more price bars the probability of their being accurate increases dramatically. I will treat my open positional trades with quick triggers this week. If supports are broken exits will be made in haste. Long term holds (ie +9 months) will stay long as I feel this correction will not loose enough ground to give monthly sell signals. Mond Tues Wed Thurs Fri DOW 30 Close 0 10560 day prior Monday Friday (if sloped) 9651 9651 -909 9651 9651 9651 9794 9818 9794 -760 9806 9812 9818 Top of Set of Three 9905 9905 -655 9905 9905 9905 10158 10158 -402 10158 10158 10158 10411 10411 -149 10411 10411 10411 10482 10521 10482 -68 10502 10511 10521 Not Mag but very key 10679 10679 119 10679 10679 10679 10926 10998 10926 384 10962 10980 10998 Newest mag tline 10947 10947 387 10947 10947 10947 11239 11239 679 11239 11239 11239 Nasdaq Close 0 2471 Next mag tline cross: day prior 6.7.99 Monday Friday 2055 2055 -416 2055 2055 2055 Strong 2290 2298 2290 -179 2294 2296 2298 2316 2316 -155 2316 2316 2316 2317 2304 2317 -157 2311 2307 2304 2338 2343 2338 -132 2341 2342 2343 12.23.94 to 10.20.95 2471 2475 2471 1 2473 2474 2475 2497 2497 26 2497 2497 2497 2611 2624 2611 143 2618 2621 2624 1.14.99 to 3.16.99 2644 2652 2644 175 2648 2650 2652 8.2.96 to 11.8.96 2655 2655 184 2655 2655 2655 2818 2844 2818 354 2831 2838 2844 2812 2812 341 2812 2812 2812 2970 2970 499 2970 2970 2970 3127 3127 656 3127 3127 3127 3210 3210 739 3210 3210 3210 SP500 Close 0 1302 Next mag tline cross: day prior 6.1.99 Monday Friday 1162 1162 -140 1162 1162 1162 1208 1209 1208 -94 1209 1209 1209 1223 1223 -79 1223 1223 1223 1262 1263 1262 -40 1263 1263 1263 85 Line 1281 1282 1281 -21 1282 1282 1282 1300 1300 -2 1300 1300 1300 1325 1328 1325 24 1327 1327 1328 9.18.97 to 6.24.98 1342 1344 1342 41 1343 1344 1344 New Mag Tline cross 1348 1350 1348 47 1349 1350 1350 86 Line 1381 1387 1381 81 1384 1386 1387 1434 1444 1434 135 1439 1442 1444 1436 1437 1436 134 1437 1437 1437 1447 1447 145 1447 1447 1447 1593 1593 291 1593 1593 1593 NDX Close 0 2090 day prior Monday Friday 1888 1888 -202 1888 1888 1888 1975 1975 -115 1975 1975 1975 Strong 2030 2030 -60 2030 2030 2030 2084 2084 -6 2084 2084 2084 2177 2177 87 2177 2177 2177 2269 2269 179 2269 2269 2269 2312 2337 2312 228 2325 2331 2337 2362 2362 272 2362 2362 2362 2454 2454 364 2454 2454 2454 ht david

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