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


To: Mr. BSL who wrote (13366)2/2/1999 8:54:00 AM
From: Jerry Olson  Read Replies (2) | Respond to of 34811
 
Morning Dick

well of course you may be right...wouldn't surprise me...but i don't think so..not yet...the NYSEBP has not given a sell signal...

also i feel we will correct to remove the excesses in the S&P's and OEX, both are ballistic right now and have to retrace...but not down to 8000...level....

9100 seems better, maybe 8900ish near term...i still see 10K as a reality near term...



To: Mr. BSL who wrote (13366)2/2/1999 10:26:00 AM
From: James Strauss  Respond to of 34811
 
Dick:

The McClellan Summation Index has a strong downtrend in place... This is a trailing indicator...
decisionpoint.com

Add to this a falling A/D line, and you have a prescription for more downside...

The next two downside Dow tests should be in the 9100 and 8950 areas...

Jim