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

To: ViperChick Secret Agent 006.9 who wrote (3837)	6/17/1998 5:45:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 34817

I was just looking at the past lows on the NYSE BP. In 1996 it went as low as 46% (we are actually at 46.9% now). In 1994 it went as low as 34% and in 1990 it went as low as 18%. The biggie in '87 took it to 6%. The farther down the pike it goes, the better the rallies seem to be afterwards. Next support at 46 and then 34. The 10 week reversing and the Optional bullish percent giving a sell is pretty impressive. I'd say we may have been looking at a fools rally but only time will tell. The rest of the week should be interesting. Take care, Jan

To: ViperChick Secret Agent 006.9 who wrote (3837)	6/18/1998 6:55:00 AM
From: Bwe	Read Replies (3) \| Respond to of 34817

Lisa, just a couple of quick things about Bear Confirmed status in the NYSEBP. Chartcraft sums up the action called for as follows: "Very limited upside chances and look for puts and shorts". Bear confirmed is basically a sell signal in the indicator. If I recall from Tom's book, he urges individuals to take note of the "field position" at which the bear confirmed signal is given. The closer to 70% the bear confirmed signal is given, the more dangerous the implications of the signal. The market has already undergone a nasty decline and we have not had a bounce into a column of X's on the NYSEBP as of yet. A move to the low 40's on the chart might be a good place to look for a place that a bounce might occur. Take care, Lisa. Bruce