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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Doug R who wrote (21066)9/7/1998 1:36:00 PM
From: ChrisJP  Read Replies (1) | Respond to of 79432
 
Hi Doug,

I think its easier to conclude that markets are likely to rebound after being oversold with no more negative news. Longer term trend is down unless Japan embarks on real reform in its banking system, cronyism, and stimulates domestic spending.

It's nice to have some technicals to confirm the gut feel <grin>.

Regards,
Chris



To: Doug R who wrote (21066)9/7/1998 1:39:00 PM
From: Doug R  Respond to of 79432
 
Geez I missed the edit window,

The main thing I see in the TA is that the 13, 25, 2 SMI on the DJIA is well below the bullish threshold and still falling.

The shorter term parameters I use in the SMI series aren't very supportive either. For reference, these are:
8, 21, 13
5, 3, 5
4, 2, 3
3, 2, 1 and
2, 1, 2

AOL's data gremlins have me bugged. I go away for 3 days and aol goes haywire on me. I'm wondering if I should even attempt the S&P or the Naz.

Doug R


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