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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 (37338)	10/19/2000 3:16:07 AM
From: Doug R	Respond to of 79180

Mag, Re S&P technicals and your very good observaton on your site: "Keep an eye on 89.3.5 stochs. 20 acted as resistance today and turned the D down. That is bad news." Sheez...I hate it when that happens but ya gotta check out the 13,8,8 in relation to the 3,1,2 and 2,1,2 here. Some initial positive divergence is in place. The 13 dRSI shows some pos div too. Both the 89,3,5 and the 4,3,2 are actually in position to kick a knee now. The 13,8,8 supports that likelihood. There's also a loose Seattle Gap setup in play. Last time that happened in late July there was a 100 point move up over a month. Other than the above...there's not much at all on the positive side...unless those knees kick and the SG setup gets verified. The 233,21,34 shows a wide separation between %D and %K so there's no real possibility for the return of any real strength for months but a big, and likely fast counter-trend rally is building where the %K will test the %D on that 233,21,34. Doug R