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

To: freelyhovering who wrote (24659)	12/27/1998 1:47:00 PM
From: Doug R	Read Replies (1) \| Respond to of 79260

Thanks Myron, Well, since you've established The Society For The Advancement Of 89, 3, 5 Research, I suppose I have to share some more on it. IF after a trip over 80, the indicator DOES break below 20, the construction of an IHS before breaking back above 20 negates the negative connotations of going to oversold in the first place and any ensuing return to 80+ should be treated as if it did hold above 20. You'll see this best exemplified in the DJIA. I like your "below 20, over 50, back to 20+ followed by the return to 80+" observation. The 89, 3, 5 is great for demonstrating that patience on the buy side is crucial. Doug R