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

To: Dennis J. who wrote (8755)	10/17/1998 4:32:00 PM
From: James Strauss	Read Replies (1) \| Respond to of 34811

McClellan Summation Index... ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Dennis: The Summation Index is a good trend follower... It's generally a week to two weeks behind the major index trends... So, it gives its signals when a major trend is already under way... It recently turned up... This reflects price and volume activity over time... I'm now looking for the index to break above an imaginary downward sloping trendline that connects the previous peaks (4/27, 7/27, 10/23) on the way down... That would give us a successful reverse head and shoulders and trendline breakout... Usually a good confirmation of a rising market... If it bounces off that trendline to the downside we should test the Dow 7400 area again... decisionpoint.com Jim