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

To: Jack Chen who wrote (366)	2/4/1998 10:52:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 34816

RP SLE ARC Hi Jack, thanks for jumping on... RP: Trading above its bullish support line it is sitting at a double bottom at 42. Move to 43 would break this support. Next double top buy signal would be at 51 which would also flip the daily momentum to positive. Weekly/monthly momentum is negative. Relative strength has reversed up with its last signal being a sell signal. Stop of 39, two double bottom breaks and violation of the bullish support line. SLE: Great stock. Trading well above its bullish support line. Relative strength is positive. Sector has reversed down do watch for weakness in stock. First sign of bad news would be a violation of the bullish support line way down at 40. ARC: Now, I realize this sector has been beaten up. Good news though, the Oil sector has reversed up into what we call bull alert at 36%. This is the best field position as far as sectors are concerned. What you may find is that things will be volatile so keep your objectives in mind. ARC has been making a series of lower tops and lower bottoms. The relative strength just weakened down two boxes. That is a big move for relative strength. I would like to see the stock hold here without giving another sell signal at 70. If it holds, a move to 80 would be a double top buy signal and a break of the bearish resistance line. It would be a wonderful thing if that happened. Thanks again, I like to see new ideas. Jan