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To: Ron McKinnon who wrote (24383)	9/19/2000 8:32:45 AM
From: chartseer	Respond to of 53068

Hi Ron: Not sure what will happen if market rallies. It all depends on my indicators. Strength and breadth of rally. Since my indicators are nearing oversold they could change direction but I will not know that till it happens. SAPE and JBL are at possible support levels on my PnF charts. SAPE acted really well yesterday within the market. With market nearing oversold and many issues at support levels a rally is not out of the question. I also tend to favor sideways motion for most issues. In my opinion SAPE and JBL will tend to continue to form a triangle pattern rather than continuing to go straight down, unless proven wrong. Then again what the heck do I know? Not even sure I answered your question or not. chartseer

To: Ron McKinnon who wrote (24383)	9/19/2000 8:46:08 AM
From: chartseer	Read Replies (2) \| Respond to of 53068

My indicators are still bearish. They are so bearish that they are now nearing over sold territory. Any rally would have to turn my indicators up for me to believe the selling is over. Of course that may or may not happen but as we approach oversold it is more likely than not. I wont know that until it happens. Right now many over sold issues are approaching support areas on their PnF charts. SAPE is at a support area. JBL could also be at a support level of 58. Possible triangle patterns being formed with an over sold market. Course of least resistance for JBL would be another leg up with resistance at 62 on the PnF chart. I had thought SAPE would bounce at 50. I was WRONG there so now I think maybe 45 on the PnF chart for a bounce back to 50. Old Axiom: support areas on way down become resistance areas on way up and visa versa. I usually think an issue has more of a tendency to move sideways in an area that it has been in before rather than breaking out or down unless proven wrong. Therefore I tend to believe it is easier for SAPE and JBL to bounce and continue a back and filling pattern rather than continuing straight down for now. then again what the heck do I know? Not even sure I answered your question or not. chartseer