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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 (24187)	12/11/1998 2:53:00 AM
From: advinfo	Respond to of 79230

DJ, THANKS!!!!!!!

To: Magnatizer who wrote (24187)	12/13/1998 5:36:00 PM
From: Magnatizer	Read Replies (2) \| Respond to of 79230

Market magnets 12.14.98 notes: Dow: did not return to set of three trendlines on Friday. Daily indicators are weak and turned down. Weekly indicators still up but loosing steam. I feel we will dip this week but it may not start in earnst until Tues/Wed. Really want to see the downturn happen before the 22nd 23rd area because if the markets run up prior to an important trendline crossover area the results could be somewhat overwhelming. Still calling for a bottom to be in around the 23rd. Nasdaq: Strongest of the big three. Actually looks like it wants to test 2055 one more time. That would be quite encouraging. Dailys turning down. Weeklys still up strongly. SP500: A few adjustments from last weeks trendlines. It was either the football game brews or metastocks floating trendlines which gave the error. Either way the 1216 trendline was actually a 1225-1226 trendline. Therefore there is a magnet trendline crossover Monday at 1226 between a important trendline and a average trendline. Then there is a crossover Wed at 926. The most important trendline crossover comes next week. The 22nd +- 2 days should be the bottom of the pullback. Dailys rolling over. Weeklys still strong up. Overall I see the SP500 being the pivot index. The Nasdaq is the strongest and the Dow the weakest. The direction and magnatude of the SP500s move will determine how far the next rally takes us. If the dip is met by solid support in the upper one thousand to low eleven hundred area then I feel we will start a strong rally in late Dec early Jan. If we do go to the lower 1000s, which I doubt, the situation will be quite different and I will need to adjust my thinking as to the next 2-3 months. Mond Tues Wed Thurs Fri DOW 30 Close 8822 day prior Monday Friday (if sloped) 7708 7719 -1114 7711 7714 7716 7719 7933 -889 7933 7933 7933 7933 8143 -680 8143 8143 8143 8143 8212 8232 -610 8217 8222 8227 8232 8352 -470 8352 8352 8352 8352 8561 -261 8561 8561 8561 8561 8770 -52 8770 8770 8770 8770 8980 158 8980 8980 8980 8980 9018 9042 196 9024 9030 9036 9042 9048 9067 226 9053 9058 9062 9067 9173 9192 351 9178 9183 9187 9192 9398 576 9398 9398 9398 9398 9471 9509 649 9481 9490 9500 9509 9651 829 9651 9651 9651 9651 9905 1083 9905 9905 9905 9905 Nasdaq Close 2029 day prior Monday Friday 1418 1420 -611 1419 1419 1420 1420 1415 1412 -614 1414 1414 1413 1412 1478 -551 1478 1478 1478 1478 1528 -501 1528 1528 1528 1528 1550 -479 1550 1550 1550 1550 1478 1456 -551 1473 1467 1462 1456 1492 1479 -537 1489 1486 1482 1479 1562 1556 -467 1561 1559 1558 1556 1622 -407 1622 1622 1622 1622 1694 -335 1694 1694 1694 1694 1766 -263 1766 1766 1766 1766 1783 -247 1783 1783 1783 1783 1846 -183 1846 1846 1846 1846 1910 -119 1910 1910 1910 1910 1973 -56 1973 1973 1973 1973 2056 2063 27 2058 2060 2061 2063 2055 26 2055 2055 2055 2055 2175 2180 146 2176 2178 2179 2180 SP500 Close 1167 day prior Monday Friday 978 -189 978 978 978 978 1024 -143 1024 1024 1024 1024 1019 1020 -148 1019 1020 1020 1020 1032 1034 -135 1033 1033 1034 1034 1034 1035 -133 1034 1035 1035 1035 1040 1042 -127 1041 1041 1042 1042 1042 -125 1042 1042 1042 1042 1080 1082 -87 1081 1081 1082 1082 1070 -97 1070 1070 1070 1070 1116 -51 1116 1116 1116 1116 1162 -5 1162 1162 1162 1162 1167 1168 0 1167 1168 1168 1168 1226 1230 59 1227 1228 1229 1230 1226 1227 59 1226 1227 1227 1227 1247 1248 80 1247 1248 1248 1248 1223 56 1223 1223 1223 1223 1274 1276 107 1275 1275 1276 1276 ht david