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

To: fourptt who wrote (27543)	3/21/1999 9:23:00 PM
From: Doug R	Read Replies (5) \| Respond to of 79230

Hi Four, PWAV's little reversal doesn't say too much yet. Its current uptrend is right on the 50 dMA at $27. A close on or below either would be a sign to get very cautious. This last Monday's close on SPNSF saw it in the same shape PWAV is in now. The current uptrend was right on the 50 dMA. It broke below both on Tuesday. Caution is suggested by such a move. As it did that, it used that first downtrend off the January high as support on Wed. as it closed above the 50 dMA. So far, Tuesday's low has held and Friday's activity was mostly positive in that it closed in the upper half of its trading range. All the chart stuff would point to exit if it closed one day (or days two depending on your tolerance) below Tuesday's low. Especially if that close was in the bottom half of the trading range. A very wide tolerance would dictate a stop at 8 5/8 according to the activity previous to the rounded top it's threatening to break down from. It's still a tenuous hold but that's about it. Doug R