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

To: Challo Jeregy who wrote (12321)	1/7/1999 5:52:00 AM
From: Bwe	Read Replies (4) \| Respond to of 34808

Good early morning, Challo. Chartseer has written here that it's important to learn from stocks whose charts look bullish and subsequently break down. The converse is also true. When a stock's chart looks very bearish, and the stock doesn't act bearishly as it's chart suggests, I believe that scenario carries bullish overtones. Citigroup (C) had a High Pole at the Bearish Resistance Line (@ $48), a good shortselling pattern, but a dangerous action in an overheated bull market. The Bank sector is at midfield at 50% and has room to move. C's RS is bullish and turned up into X's in December after having been bearish for September and October. Prior to the HPB, C gave a very bullish Quintuple Top break also at $48. This strong buy signal broke the BRL drawn in after the July top at $72. After the HPB, C reversed up into X's and gave a Catapult buy signal yesterday at $54. The po is $57. With yesterday's buy signal, C broke the Bullish Resistance Line (brl), also, an optional buy signal. The $57 would be the short term po and the intermediate term po would be the next brl at $69. C is still trading 26% below it's highs. C looks good, Challo. Bruce