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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Bwe who wrote (25164)	2/1/2001 11:43:19 PM
From: chartseer	Respond to of 34822

Hi Bruce: I expect a pullback. The HILO index is near or at it's historic high of 96%with a 95.8. Today as the DJIA neared 11000 the number of charts that turn to a reversal of Os was more than twice the number of reversals turning to a column of Xs. 11000 on the Dow will give an ascending triangle with a level triple top at 11000. With every one expecting a rally because of lower rates the time would be perfect for a sell signal. Everyone says if we hit 11000 the DJIA will rally. I don't think so. I am expecting another down move for the NDX chart to form a classic reverse head and shoulders. I believe the market is actually some what over extended after January's up move.Investors intelligence's Sentiment index could be a confirmation of that over extended market. For the first time since the first week in January the number of down charts of the NDX out number the number of up charts. Then again what the heck do I know? chartseer