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

To: Challo Jeregy who wrote (5170)	7/28/1998 7:48:00 PM
From: wizzards wine	Read Replies (1) \| Respond to of 34811

TO ALL>>>>Hate to be a BROKEN RECORD but the indicators are breaking down again...If Jan does not update, I will shortly.... Advance/Decline reversed back down...and several others are very close!! Later Preston

To: Challo Jeregy who wrote (5170)	7/28/1998 8:10:00 PM
From: iGregor	Read Replies (1) \| Respond to of 34811

Challo, SPX was in Xs as of yesterday (7/27) and holding at 1145. As I understand it, if SPX went up one box (or more) today, then the trend chart will continue to show upticks in Xs to the high for the day regardless of close. If SPX did NOT reach one box up, then chart will either remain the same (if low is less than 3 boxes below yesterday's chart level of 1145) or reverse to a column of Os (if low is equal to or greater than 3 boxes below yesterday's chart level). It appears DWA uses a 5 unit box size for SPX, so if level reached 1150, then we could expect to see another X. My data indicate today's hi was only 1147.26, however. So, no new Xs. Today's low for SPX of 1119.44 exceeded 3 box decline necessary to constitute a reversal (regardless of where it closed). So I expect to see DWA update of SPX chart in a column of Os tonight to a level of 1120. Let's check it out later. East