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 (30067)	6/6/1999 11:21:00 AM
From: Magnatizer	Read Replies (1) of 79230

Market Magnets 6.7.99 Added types of mags to the horizontals in the spreadsheet. Regular mags should be tested for a min of 5-7 days else they are likely to be seen again if run through to quickly. Weak mags do not need to be tested but will still act as support and resistance (S&R). Strong mags are more difficult to conquer, thus when they are overrun the ensuing rally is generally stronger than normal because there is more conviction. Neutral zones are areas in the exact middle of two mags. They are areas of decision which generally provide a base area for one to two weeks. Quarter zones normally are shorter term S&R. notes: Dow: Near mag signal. Weekly hold rating. 11004 utrend target looks likely to be reached shortly. Nasdaq: Change of tline cross from 6.7 to 6.8. Cross occurs in the 2302 area. Neither tline has yet to show itself to be highly significant but that does not mean the cross should be discounted. Both tlines are relatively new, thus, they have time to mature into tlines of significance. Weekly sell signal is weakening. Nasdaq comp is also set to give a new magnet signal. SP500: Weekly hold rating. Set to give magnet signal. Reached target from Fridays Mag update on Friday. Looks very good. Still plenty of nearby overhead (including the 86 line) which should provide some resistance to a real breakout run. Nas100: Weekly sell signal. Near mag signal. With the indexes all near mag signals I would say within the next two weeks the near term market direction (2-3 months) should be more easily determined. Mond Tues Wed Thurs Fri DOW 30 Close 10800 day prior Monday Friday (if sloped) 9825 9846 -975 9830 9836 9841 9846 Top of Set of Three 9905 -895 9905 9905 9905 9905 Neutral zone 10158 -642 10158 10158 10158 10158 Quarter zone 10411 -389 10411 10411 10411 10411 Weak 10536 10572 -264 10545 10554 10563 10572 Not Mag but very key 10679 -121 10679 10679 10679 10679 Neutral zone 10947 147 10947 10947 10947 10947 Regular 11004 11072 204 11021 11038 11055 11072 Newest mag tline 11239 439 11239 11239 11239 11239 Weak Nasdaq Close 2478 Next mag tline cross: day prior 6.8.99 Monday Friday 2055 -423 2055 2055 2055 2055 Strong 2198 -280 2198 2198 2198 2198 Weak 2306 2295 -172 2303 2301 2298 2295 2300 2308 -178 2302 2304 2306 2308 2316 -162 2316 2316 2316 2316 Neutral zone 2346 2343 -132 2345 2345 2344 2343 12.23.94 to 10.20.95 2434 -44 2434 2434 2434 2434 Weak 2476 2480 -2 2477 2478 2479 2480 2497 19 2497 2497 2497 2497 Regular 2627 2641 149 2631 2634 2638 2641 1.14.99 to 3.16.99 2654 2661 176 2656 2658 2659 2661 8.2.96 to 11.8.96 2655 177 2655 2655 2655 2655 Quarter zone 2853 2881 375 2860 2867 2874 2881 2812 334 2812 2812 2812 2812 Regular 2970 492 2970 2970 2970 2970 Quarter zone SP500 Close 1328 day prior Monday Friday 1162 -166 1162 1162 1162 1162 Neutral zone 1208 -120 1208 1208 1208 1208 Quarter zone 1209 1210 -119 1209 1210 1210 1210 1263 1264 -65 1263 1264 1264 1264 85 Line 1282 1283 -46 1282 1283 1283 1283 8.1.84 to 10.19.84 1289 1276 -39 1286 1283 1279 1276 5.10.99 to 6.1.99 1300 -28 1300 1300 1300 1300 Regular 1330 1333 2 1331 1332 1332 1333 9.18.97 to 6.24.98 1345 1347 17 1346 1346 1347 1347 1350 1351 22 1350 1351 1351 1351 86 Line 1389 1396 61 1391 1393 1394 1396 1437 1438 109 1437 1438 1438 1438 1447 119 1447 1447 1447 1447 Quarter zone 1446 1455 118 1448 1451 1453 1455 1593 265 1593 1593 1593 1593 Neutral zone NDX Close 2109 day prior Monday Friday 1888 -221 1888 1888 1888 1888 Quarter zone 1975 -134 1975 1975 1975 1975 Strong 2030 -79 2030 2030 2030 2030 Neutral zone 2084 -25 2084 2084 2084 2084 Regular 2177 68 2177 2177 2177 2177 Quarter zone 2269 160 2269 2269 2269 2269 Neutral zone 2335 2356 226 2340 2346 2351 2356 2362 253 2362 2362 2362 2362 Quarter zone 2454 345 2454 2454 2454 2454 Regular ht david

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