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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Bankceo who wrote (11605)	1/30/1998 12:32:00 PM
From: Doug R	Read Replies (1) \| Respond to of 79270

Bankceo, The recent string of closes on the low is driving the stochastics momentum down and that's starting to show up in the short-term stochastics now. The long-term stochastics show no sign of recovery coming off the 10/97 peak. The rebound from the 1/5 drop has taken the short-term RSI to overbought. The 55 day RSI is under 50 which is weak and the last week of closes has flattened out the RSI altogether. Not much to like here either. The Positive Volume/Negative Volume index shows there are still alot of people holding from the 7/97 move but I think many more have gotten out so there is less concentration accumulation/distribution-wise and that trend stands a good chance to continue. The 89 day MA/MLR which gave a buy signal by crossing positive in June (well after I called it a buy in April based on other technical factors) crossed negative at that lower peak in Dec. There are better places to look than MVSI at this time I believe. Doug R