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

To: freelyhovering who wrote (18470)	6/13/1998 7:04:00 PM
From: Doug R	Read Replies (1) \| Respond to of 79298

Myron, There is definite improvement in NORT's technical profile. It's also setting up a short term buy signal that would be complete with an up close on Mon. I'd go with any early move on strong volume as a chance to beat the signal. Any weakness exhibited as it gets over 1 1/2 shouldn't be ignored though. It may have to wind up one or more times to really get going toward or over 2. The S&P technical profile is getting more and more trading range-like. It looks alot like the period from 4/91 to 9/92. During that time it moved less than 10% (all in 12/91) as it set up a base on base formation. Also during that time there were quite a few technical nasties that occurred. Geez, the next year and a half could get really contentious between the gloom & doomers and the foaming-at-the-mouth-bull-market boomers. I'll probably move my 401K slowly back in on each instance of irrational non-exuberance as this plays out. First, I want to take a deep breath and make sure that nothing cataclysmic appears out of nowhere for a little while. It may turn out that S&P 1075 is the bottom of what may be an extended base here. As I said before, if 1075 doesn't hold 1015 to 1025 is likely although 1015 is trailing off the radar screen as time goes by. Doug R