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

To: Mr. BSL who wrote (7410)	9/17/1998 11:10:00 AM
From: Ronald J. Clark	Read Replies (3) \| Respond to of 34811

Duke60 Thanks for the info on Oil Services stocks. What is a reasonable expectation for the group going forward? Ron Clark

To: Mr. BSL who wrote (7410)	9/17/1998 11:24:00 AM
From: Ms. X	Respond to of 34811

For those watching the DJIA.. Remembering of course that it has nothing to do with the NYSE BP It is important that this up and down occur. Notice that if the Dow had not moved up from the low of 7450 to 7950 and then reversed down, the next buy signal would not have come unitl 8700! This is how supply and demand works. Give and take. What is crucial when this push and pull occurs is to see who is winning. Supply or demand. Clearly demand is winning. 8750-------------------O --O X O X ----O --------X --------* -------- 8700 O X O O X X O * 8650 O X O X O X O X * 8600 O O X O X X O X O * 8550 O X O X O X O X O 8500-----------------------------------O X O X O X O X O ------------- 8450 O X O X O X O X O 8400 O O X O O X O 8350 * O O O 8300 * O 8250-----------------------------* --------------------O ------------- 8200 * O 8150 * O 8100 * O X <--Yesterday's action 8050 * O X 8000-------------------* ------------------------------O ----X --X --- 7950 * O X X O X 7900 * O X O X O X 7850 * You can see here that O X O X O X 7800 * the DJIA has been O X O X O X 7750---------* ----------------basing since its low----O X O X O X --- 7700 of 7450 in beginning O X O X O X 7650 of September. O X O X O X 7600 Also notice the higher O X O X O X 7550 bottoms and higher tops O X O X O <--Next support level. 7500---------------------------------------------------O X O --------- 7450 9 7400