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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Woody who wrote (31423)	8/1/1999 7:24:00 PM
From: Doug R	Read Replies (2) \| Respond to of 79230

Woody, LWIN: I get the ACT from 2/25 to 3/3. L2 is 12/14/99. Break over IL was intraday on 4/14/99. Return to ACT occurred on 5/26, 27 and 28...value at 15 1/2 on 5/27. RR accomplished 6/11 with high of 21 3/4. % drop from high to ACT: 39.95% %RR from ACT: 42.04% Current value of ACT: 22 9/16. This line is likely resistance with the potential to provide further short term momentum if superceded by the price. The full IL/ACT/RR cycle has already completed on it. Now it's doing a triangulation thing. Since it has developed a chart pattern (the triangle) it's most likely removed most of the IL/ACT/RR influence from the overall dynamic except for the ACT still hanging out there as resistance/springboard. Now the triangle that goes back to the 4/14 high has recently settled into an ascending triangle with resistance running horizontal along the tops on 6/11 and 7/28. A break over that line would kick some initial momentum into it that could be built upon with a break over the ACT. The IL is around 50 now so that's no longer a problem. You'll have to stalk it based on the ascending triangle and then shift focus to how it handles the ACT overhead. Doug R