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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 (22321)	10/26/1998 10:11:00 PM
From: Magnatizer	Respond to of 79200

Market Magnets for 10.27.98 Notes: Markets responded as expected today. Dow stocks still not good for longs (short term perspective). Nasdaq looks like it want to break the lower high to get it out of the troubling formation of lower highs and lower lows. Look for it to be strong through Thursday minimum. I like 1766 as the axis for its pending range to be entered. Channel top and bottom yet to be defined. Weekly buy signal triggered today but will not be verified til the end of the week. SP holding above 1070. I would like to see it move up to 1116. Not likely to do that til it starts its next uptrend. I cannot see when that will be. Technicals still mirror those of the Dow Mon Tue Wed Thur Fri DOW 30 Close 8452 8432 day prior Monday Friday (if sloped) 7641 7538 -811 -817 7590 7564 7538 7623 7634 -829 -806 7629 7631 7634 7724 -728 -708 7724 7724 7724 7933 -519 -499 7933 7933 7933 8062 8081 -390 -365 8072 8076 8081 8143 -310 -290 8143 8143 8143 8352 -100 -80 8352 8352 8352 8561 109 129 8561 8561 8561 8770 318 338 8770 8770 8770 8840 8863 388 414 8852 8857 8863 8867 8888 415 440 8878 8883 8888 8980 528 548 8980 8980 8980 8987 9010 535 561 8999 9004 9010 Nasdaq Close 1694 1725 day prior Monday Friday 1400 1402 -294 -325 1401 1402 1402 1443 1440 -251 -283 1442 1441 1440 1478 -216 -247 1478 1478 1478 1528 -166 -197 1528 1528 1528 1550 -144 -175 1550 1550 1550 1599 1578 -95 -131 1589 1583 1578 1624 1616 -70 -103 1620 1618 1616 1622 -72 -103 1622 1622 1622 1660 1639 -34 -70 1650 1644 1639 1694 0 -31 1694 1694 1694 1766 72 41 1766 1766 1766 1783 89 58 1783 1783 1783 1846 152 121 1846 1846 1846 1910 216 185 1910 1910 1910 SP500 Close 1071 1072 day prior Monday Friday 944 945 -127 -128 945 945 945 978 -93 -94 978 978 978 1004 1005 -67 -68 1005 1005 1005 1011 1014 -60 -60 1013 1013 1014 1024 -47 -48 1024 1024 1024 1018 1021 -53 -53 1020 1020 1021 1029 1030 -42 -43 1030 1030 1030 1039 1042 -32 -32 1041 1041 1042 1042 -29 -30 1042 1042 1042 1070 -1 -2 1070 1070 1070 1116 45 44 1116 1116 1116 1162 91 90 1162 1162 1162 ht david