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

To: Dennis J. who wrote (4072)	6/24/1998 11:14:00 PM
From: Les H	Respond to of 34823

I thought you had to manually draw trendlines to enable the Trendline break reports to produce signals for BSL and BRL breaks. Both the Nasdaq and S&P 500 are getting fairly close to the top of the trading band (centered about the 28-day IT mov avg): Nasdaq at 1877 is 12 points shy of 1889. S&P 500 at 1133 is 15 points shy of 1148. The Dow is almost 300 points below. Perhaps to peak just in time for Windows 98 launch. Hard to believe, but this move is up 9.5% on the Nasdaq already. If one removes the takeover stocks (8) from the S&P 500, it is still below the downtrend line as is the Dow. The unweighted Nasdaq 100 for which I have a market ticker is still near the bottom having just moved out of the base and turned up. The S&P 600 smallcap growth index and S&P 400 midcap growth index, which I also have unweighted averages, are off 12% and 10% still, just about 2-3% above their lows. LHSPF (Lernout & Hauspie), SFSK (Safeskin), and CNCX (Concentric Networks) appear poised to breakout.