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

To: Bwe who wrote (4119)	6/26/1998 6:05:00 PM
From: Bwe	Read Replies (2) \| Respond to of 34808

Chartcraft Weekend Report: -All advance/decline lines below where they were 10 days ago, but that looks like it's about to change in the next few trading days. Chartcraft likes to compare the value of the A/D lines to their levels of ten days ago. When current A/D levels are higher than they were ten days ago, this should be viewed positively because it indicates underlying market breadth has improved and indicates market strength. If all A/D lines are below levels of 10 days ago as they've been for some time now, the markets internal strength should be viewed as a negative. -Recent p&f buys in the NYSE Composite Index, S&P Midcap, and Value Line Index. -Insiders have switched to the Buy side in the following stocks according to Chartcraft's Value Line Insider work; Cracker Barrel, Tricon, Darden, Ionics, and Delta Airlines. -Insider indicators point to second half market weakness. Technical Indications: High Pole Tops: JC Penney, Pixar, Sherwin Williams, Sea Containers Bull Traps (negative): Esco Electronics, Sbarro Bear Traps (positive): Green Tree Financial, FDX, Cracker Barrel, Cigna, Franklin Resources RS Buy Alerts: Comcast RS Sell Alerts: JP Morgan, Novellus Systems, Network Comp., Millenium RS Buy Signals: Legato, Aspen Technology RS Sell Signals: Richford Holdings, Pathogenesis, Harris Corp. "Dow was up 163 points from a week ago. NYSE Bullish % down another box and Bear Confirmed. We've not been below 30% since December 1990 but odds favor that now. We look for price objective of 8150-8500." Have a great weekend. Bruce