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Strategies & Market Trends : CHARTS AND TA, A UNIQUE APPROACH -- Ignore unavailable to you. Want to Upgrade?

To: Tim Brustad who wrote (1333)	12/6/1997 10:03:00 PM
From: stan s.	Respond to of 1391

TLD, sorry for the delay Tim. TLD broke over near term resistance as well as resistance dating back to Feb. 96, on Friday. It broke and held on high volume, impressive but it needs an up day on Monday to help solidify the break. Indicators are still fine, a little toppy, tending toward the overbought but don't appear weak yet. They were in the overbought range most of November. If this move over support holds, I would probably play the yellow trendline, keep it as long as it stays over. Once it closes below it, it's likely to test a support level...at the moment 29 1/2. Note that it can drop under the grey line and still hold at or above the yellow trendline at least for another couple of days. Nice healthy chart...course news as always the overriding factor. One more thing to watch here, this will be the 4th major test of the30 range, in the last two years or so. The other 3 attempts failed and resulted in some pretty good plunges. This is an important test. An engulfing bullish line appeared Friday as well...this is bullish during a downtrend...here could indicate a top. Watch it closely. geocities.com Good luck, Stan