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

To: ChrisJP who wrote (36375)	7/30/2000 6:28:46 PM
From: Magnatizer	Read Replies (1) \| Respond to of 79398

Chris I am now of leaning heavily toward a move to 1300 for SP 500 before a real bottom is in. Time frame is a bit hazy but somewhere between now and mid November key magnet trendline cross is most likely. One particularly important area of my site to note is the SP cash weekly fins chart. I noted on 3.3.00 that the reaction to the fins was showing many similarities to the early 90's fins. Many whipsaws occurred then as they are now... Once the break from the fin key areas occurs we are likely to have the direction of the break trend last for multi years... Nas 100/Nas comp: Basically I am back to being concerned of a possible move down to sniff the 3222 magnet (nas comp). The prior return to test should have been short and sweet in Mid April. Instead it bounced nicely and failed to hold bounce to return just one month later. The bulls have only so much firepower at that level left and a return to test this firepower would be too much for the bulls (IMO). In other words... Nas needs to find footing and find it fast. 3612 is a weak magnet on the nas comp. It should hold this week as the Nas 100 is also near a key level support (neutral zone). If this does not occur (support holding) 3222 is very likely in the bag. The choppy action the market has shown makes it difficult for me to TA. I won't speak for others but I know I have had to find some new toys to handle it. The CMS (choppy market system) looks quite promising. As far as news goes... News can override TA to a degree but when they line up together the results are awesome. TA is a tool to get you in/out before news is announced. I do not follow news closely enough to make a judgement on it's influence on the market this year. ht Mag