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

To: Ms. X who wrote (3716)6/15/1998 6:05:00 PM
From: Ms. X  Read Replies (2) | Respond to of 34811
 
NYSE BP
Last reading on the "Big Coach" was 54.2 and after this weeks activities,
I'm sure it has declined more. In fact, I know it has but to what percent,
I'm not sure. We are getting close to Bear Confirmed Status. This would be
a sell signal on the chart coming from up above the 70% level. The signal
is at 48. Significant? Yes. We just keep doing what we have been doing.
SuperDow noted in '87 we went Bear Confirmed at 48 as well and then all
Hell broke loose. If we do this time, we don't know what will happen but
as you all know, we take these things seriously. Thursday is when the
indicators are updated however, if BearConfirmed is reached before then,
we will let you know immediately. As always, eyes open, chin up and hang on!

86 +- +-+- +- +- +- +- +- +- +- +-
84 | | | | | | | | | | |
82 | | | | | | | | | | |
80 --| ------| | ----| --| --| --| ------| --| --| ------------| -----
78 | | | | | | | | | | |
76 | | | | | | | | | | 8 A |
74 | 9 | | | | | | | | 7 O X O |
72 X 8 O | | | | | | | X O X O | X
70 --3 O ----7 O ----X --| --| --| ------| --| --| --X 9 --O --| X O ----------
68 X O 6 A 3 O | 2 | | | | X O | X O
66 X 5 5 O X O 2 X O 2 | 5 | 6 O | 3 5
64 X O 7 3 O X 5 X O 1 O 1 O | X O 1 X O | X O
62 X O X O X O X O X O C 4 X O 8 X O C O X O | X O
60 --X O X O 2 O ----X 6 X 4 X O X 3 ----7 O 2 7 B O X ----O X | X O ----------
58 X O 8 X O X O X O X C | O X O X O A 4 5 O C O X 6
56 X O 1 O X 8 X O X | O 6 A X O X O X O X O 2 O
54 2 O X O X A 1 O B | O X B | O 9 O X O X O X O
52 X B X O X X B X 6 X | 4 5 | O 8 O O 1 X ?
50 --X ----O | B 6 O X O X O X --| O 9 --X --| O X ------------O --?-----------
48 X | 1 X O X C X O | | O X O 4 | O X | ?<--Bear Confirmed
46 X | O 5 8 2 O | | | O X O X | O | |
44 X | O 3 O X | | | O 8 B X | | |
42 1 | O X O 1 | | | O X O 3 | | |
40 --X ------| O X O X --| --| --| O X O 2 --| --| ------------| --------------
38 X | 2 O X | | | 5 O X | | |
36 X | | O X | | | C X | | |
34 X | | O C | | | O | | | |
32 X | | O X | | | | | | |
30 --X ------| | --O X --| --| --| ------| --| --| ------------| --------------
28 X | | O X | | | | | | |
26 O X | | O X | | | | | | |
24 O X | | O B | | | | | | |
22 C X | | O X | | | | | | |
20 O | ------| | --9 X --| --| --| ------| --| --| ------------| --------------
18 | | | O | | | | | | | |
16 | | | | | | | | | | |
14 | | | | | | | | | | |
12 | | | | | | | | | | |
10 --| ------| | ----| --| --| --| ------| --| --| ------------| --------------
8 | | | | | | | | | | |
6 | | | | | | | | | | |
4 | | | | | | | | | | |
2 | | | | | | | | | | |
0 --+-------+-+-----+---+---+---+-------+---+---+-------------+---------------
8 | 8 8 8 8 9 9 | 9 | 9 | 9 | 9 9 | 9 | 9 | 9 9 | 9
7 +-8 8 9 +-0 0 +-1 +-2 +-3 +-4 4 +-5 +-6 +-7 7 +-8



To: Ms. X who wrote (3716)6/15/1998 7:26:00 PM
From: FishbackJ  Read Replies (1) | Respond to of 34811
 
Hi Jan,

At the risk of being forced into a "dream date" with Richard Bach, I'd like to ask you a question.....You said,

"6-12-98 Dow Jones Breaks a spread triple bottom at 8700 on its
Industrials chart. Next support in the 8150 area. Keep
in mind that we focus more on the NYSE Bullish
Percent to measure risk in the market, not the
Dow, but we wanted to let you know of this
breakdown."

Why is it that Chartcraft always uses the DJIA for RS calculations, while using the NYSE for the general market strength calculations ?

Thanks,

Dick


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