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To: chartseer who wrote (16)	7/31/1999 8:03:00 AM
From: chartseer	Read Replies (2) \| Respond to of 82

Shread's Thread: MUT is looking so weak I am beginning to think it is getting over sold. DJIA is also looking weaker but not as weak as MUT. QQQ is actually weakening more than it shows despite the fact that it's Bullish percentage increased to 59%. It seems to me that the day traders are moving in to a narrower selection of momo stocks which would account for the QQQ not being as weak as the DJIA or the MUT. Currently there are twice as many Bearish PnF Chart patterns as Bullish PnF Chart Patterns, 757 to to 314. As a convinced PnF chartist this would tend to make me believe that the stocks are headed lower. This is just based on conjecture and not fact. If the MUT is really oversold would that not call for a rally? If the MUT rallied would not the DJIA rally also? Then wouldn't the QQQ rally too? How could everything rally with more bearish chart patterns than bullish chart patterns? Ahhh life is so complicated! Just thinking out loud. then again what the heck do I know? chartseer