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

To: Magnatizer who wrote (36284)	7/20/2000 10:16:47 PM
From: Magnatizer	Read Replies (1) \| Respond to of 79384

Market magnets Having trouble with geocities upload tonight. Posting today's commentary here instead. Not sure link's are going to work.. I will continue to try and post commentary to the site. 7.20.00 Leaving tomorrow afternoon. Will be gone for a week. Site updates possible but not likely. RFMD RFMD horizontals chart RFMD magnet trendlines chart No new orders. Looks trapped in 78.75 to 98.63 horizontal mag zone. WMT WMT chart No new orders. MSFT: MSFT chart No new orders. SP 500: SP 500 short term SP 500 horizontal SP 500 80s trendlines chart I am at a crossroads. I would have preferred a flat/down day today, thus setting up a nice reversal up on tomorrow's cross (I know I give em 2-3 days padding either way but I really prefer them to be spot on). Anyway, today's action which took out yesterday's high intraday and closed right at it is a bottoming type bar. Also, the intraday 60 min chart has a beauty of a I.H.S formed. So... I still like the 1480 area long entry which was given yesterday. Stop placed below Thursday low looks very good and a strong up day tomorrow sets stage for a major up move early next week. Nas 100: Nas 100 chart 9.14.98 trendline says... NOT SO FAST. 4118 - 4178 area likely to be tested soon enough. Russell 2k Russell 2k trendlines chart Bottom type bar in place, requires tomorrow up day to confirm. BKX: BKX chart BKX horizontal chart BKX Head and Shoulder BKX wolfe wave chart Short of a absolute disaster tomorrow the H&S pattern is not going to form. BKX is forming a wolfe wave and ABCD move up. Likely top set next Thursday in the 868 area. Target on ensuing pullback is 760 area. This read correlates well with the magnets: Horizontal overhead 851.5, 869.3 (topping area) and has a downtrend line which will be in the 760 area when the retrace gets there. For those not familiar with wolfe waves (they are new to me too) wolfewave.com CRB: CRB chart New mag born today. Posted new chart with the added trendline (can't see the horizontal mag as it is double todays low). I am still a CRB bull and expect to see 233 area before to long. BTK: BTK chart Nothing to add to 7.17 commentary. ht Mag