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

To: wizzards wine who wrote (14608)	2/24/1999 10:03:00 AM
From: James Strauss	Respond to of 34811

Preston: I remember last April very well... That period between April and July saw the Dow climb from about 8500 to 9100 before topping out... The A/D kept falling during this period, but the New Highs remained above 100 during this period... In June the New Highs dropped and the New Lows increased to 100++... By having The A/D line and New Highs falling at the same time while New Lows were climbing, this was te warning signal to exit equities... When the major averages went below their 50 day MA, that was the get out signal in conjunction with the other signals... Today, the major averages are above their 10 day and 50 day MA... And, market breadth is hot one day and cold the next... quote.yahoo.com Today market breadth is good... These are not conditions for an immediate downturn... So, at the very least, I'd use the 10 day MA as a short term timing vehicle, and the 50 day MA as the intermediate term timing vehicle... Jim