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

To: Al Serrao who wrote (4569)	7/9/1998 6:24:00 PM
From: Bwe	Read Replies (3) \| Respond to of 34811

Chartcraft Report: -All 3 advance/decline lines (NYSE, ASE, OTC) are above where they were 10 days ago. This is bullish. However, the ASE and OTC a/d lines are barely above where they were 10 days ago. This bears watching. -Short term indicators are bullish and not yet at overbought levels -Chartcraft sees stocks getting a lift during the heart of the earnings reporting season but could run into trouble afterward. That's where the move to Dow 8,000-8,400 seems likely. -Many stocks have gotten hit badly over the last two months and have lost 1/3 to 2/3 of their value. -Continue to see advances to be narrow and declines broad based. -Good number of Japanese funds have turned positive and that's why Chartcraft added Japan WEBS to their portfolio. -Technical Indications: Bear Trap (bullish): Host Marriott High Pole Top (very bearish): Amazon RS Buy Signal: Pacificare Health Systems Bullish RS Reversing to an Up Column: Nationsbank Bearish RS Reversing to a Down Column: AT&T Take care, Bruce