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

To: Woody who wrote (25663)	1/23/1999 5:44:00 PM
From: Doug R	Read Replies (1) \| Respond to of 79270

Woody, That 89, 3, 5 on ESST is just a bit too high. Over 80 is overbought enough to move the price with room to get more overbought but now there's not much room left. It'll need to back off some before it can reload. There's a chance that it can get over 9 and complete the left side of a MIM. That would put it months away from a proper MIMBO. Or it could reset and finish the left side in a week or so. I wouldn't go after it here for more than a quick trade if it begins to move on volume on Monday or Tuesday. After a base from any move, it could continue higher. I get a tentative target for the top of a MIM in the 11 to 14 range so there is room to go long on it once that 89, 3, 5 situation is cleared up. Doug R