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

To: bruce-l who wrote (36514)	8/15/2000 2:42:39 AM
From: Doug R	Respond to of 79370

Bruce, Rather than a straight shot to another paste on the 3 dRSI of the ratio, it would be best to see a trick setup on it here. Preferably one that comes with a flat to slightly up S&P. Any sharp pullback on the indexes now would send things into a more extended stalling period that would be "blamed" on "continuing interest rate jitters". When the 3 dRSI on the ratio gets over 70 it's time to take profits from buying when it's below 25. A trick setup is a hold. If the market wants to take the typical election year scenario right to the hard right edge, there should still be plenty of time for the 3 dRSI on the ratio to put in one more straight shot to a paste which would allow one last pre-election buying opportunity when a sub-25 value is reached soon after. It gets "tricky" if a hitch is put in here since a significantly higher low on the indexes should occur after a trick buy signal has topped out. Probably something just over S&P 1460. (It gets even trickier if the hitch is of the stealth variety which is finished off by a sideways move on the indicator rather than an obvious up-down move) Overall, there's 2 up scenarios that already have a head start versus 1 down scenario that requires effort to bring about. It seems like there's a day or two of panic buying out there just waiting to happen. A trick would bring them about sooner and a straight shot to a paste would delay them a week or two. Stay tuned. Doug R