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

To: superdow who wrote (2622)	4/27/1998 10:22:00 AM
From: Mr. BSL	Read Replies (1) \| Respond to of 34811

Hi Superdow. I suspect that the DWA page and/or the Chartcraft folks will get the word out one way or another when the NYSE% bullish actually shifts into a column of O's. Shifting to a column of O's is a big deal. Duke

To: superdow who wrote (2622)	4/27/1998 10:48:00 AM
From: Ms. X	Read Replies (1) \| Respond to of 34811

SuperDow, I hope you don't think that a 180pt drop in this market is a correction? Not at a market this high. This is only the beginning. The bullish percent rates risk. It is not designed to predict ,just show risk and it has already done that. A month ago, I reported that the 10 week moving average reversed and this warranted caution in the market. This is a leading indicator and proved to be since the market continued up sharply there after. Contrarian if you will. Then I reported that the 10 week and the NYSE High/ Low index reversed as well as the Optional bullish percent weakening and to be careful. The market still continued up. Three times I've told this thread to monitor their portfolio and to be careful because of the leading indicators. All of this before the NYSE BP reverses down. IF the NYSE BP does reverse, it will indicate most probably the direction the market will continue and everyone better have their hard hats on. In October it reversed down and the market dropped 500pts a couple of days later. Tom has pared back to almost cash at this point and that is probably too drastic a measure for most people. But as he says " I can shut down my accounts for the rest of the year and look back fondly on the year thus far." The red light has been flashing for this market for some time. Most wanted to ignore it because some stocks were making all new highs. However, the broader market was creating more and more sell signals. I've been protected for some time and have puts too. Heck, I even started a put portfolio. I'll have to go check that to see what it is doing... Take care, keep wathcing and BE CAREFUL!!!!!!! Jan I am