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

To: james ball who wrote (15085)	3/6/1999 2:03:00 PM
From: James Strauss	Read Replies (1) \| Respond to of 34810

Tom: While I'm taking advantage of this short term psychological rally, I'm concerned that only the Dow has made new highs that haven't been confirmed by the other averages, especially the Transports... decisionpoint.com The Transports have formed a Symetrical Triangle pattern... decisionpoint.com These formations usually resolve in the direction of the trend... So, we are very close to an upside or downside breakout... My guess is that the overall market will follow the direction of this breakout... Also, the A/D line near its all time lows... decisionpoint.com It is beginning to look more like a blowoff top formation... I'm keeping a tight 10 day MA stop as a signal to move to the sidelines... Until then, enjoy... : > Jim

To: james ball who wrote (15085)	3/6/1999 7:13:00 PM
From: The Perfect Hedge	Read Replies (2) \| Respond to of 34810

Tom- I'm a little confused.You say the 10 week reversed up and we are on a buy short term because the big indicator(NYBP) hasn't reversed up.I got that.What I don't get is the reference to July.What happened then that is similar to now?If the 10 reverses back down do you think the NYBP will break 30% on the downside?I know that was the original thought when it reversed down a short time ago but this recent wave of buying has changed the course.......... B*