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

To: Magnatizer who wrote (21360)	9/16/1998 2:39:00 AM
From: Doug R	Read Replies (1) \| Respond to of 79270

David, APCO at 6? Deja vu. Is there convergence in the 13, 8, 8? MACD is also imprtant at times like this. 3 dRSI IHS patterns will be popping all over the place by Friday if this bounce in the indexes is for real. There's now an even better possibility that the major avgs. will go into triangulation mode. The earlier stages of a triangle offer the best opportunities at the widest individual swings and timing the break (up or down) of the pattern towards the apex is the next best trading opportunity. The system is more resilient than Soros says (of course he's short the world and would like to see more psychological instability) but he's just pissed off about how the IMF failed him in Russia and then fought him in Asia. Overall, there's no compelling reason to abandon the global corporation. It' just seems to me that waiting for market continuation (the next leg that requires the next wall of worry to climb) will require ever sharper application of TA. The "hold for 2 days of a move up" is still a more sensible approach at this time while shorting is getting more dangerous. The next 3 days will probably be directionless on the surface of the avgs.. Underlying technicals will start to tell alot more here. Doug R