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Strategies & Market Trends : today's chart -- Ignore unavailable to you. Want to Upgrade?

To: Gale A. Thompson who wrote (841)	1/3/1998 11:15:00 AM
From: Gale A. Thompson	Respond to of 1267

Greetings All! Hope the holidays were safe and pleasant and the new year is safe and prosperous.... I've updated the MM charts on Big Blue. You'll find them at: geocities.com DJ30 is showing some resistance after a basic 5-day incline. With the potential influx of money that is sitting on the sidelines and the positive money flow into the markets again this week, I would like to believe the Dow will break through this resistance and give us the Jan efffect we've been waiting for. Hopefully we can push through 8300 before the new earnings reports come out. Nasq is the same sort of thing, also showing resistance after 5 consectutive up days. However, it has been a falling bouncing ball since October with the highs and the lows getting lower. Gann said the greatest resistance point in the price movement will be halfway between the high and the low. The high is 1653 on Dec 12 and the low is 1462 on Dec 15, of the last movement: (1653+1462)/2 = 1557.5. We are currently at 1581.5. If we could continue up from here, would show strength for the small and midcap stocks. If we fall for some temporary support, 1557 should be the support line. To fall below that will be showing signs of weakness. SOX I like the watch because it is high tech and genarally volatile. It has fallen 9/8 at a 45 degree angle since october. It has broken up through the 45 degree angle at a 22.5 degree growth rate. The 22.5 is the normal growth rate for an equity security. It has "driven" through the 1/8 (yellow) line and and closed at the high of the day. It will meet with resistnace at the 281 mark. If the markets are strong, we will pass through this. If not, our "ball" will continue to bounce. -- Gt --