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

To: Cornstock who wrote (27782)	3/27/1999 3:59:00 PM
From: Alski	Read Replies (2) \| Respond to of 79227

Peg, MACR chart on it's side? I turned my laptop over to both the left and right sides (but not at the same time <G>). Didn't do a thing for me, except snag a few cables. Either Dougr skipped that chapter in Orlando or I dozed through it. Anyway, I thought I saw a lower low in late 97 which would have made Oct. the MIMBO and now the PegBO. Oh well, whatever we call it, it seems to have broken just about everything I can draw, except maybe a few optimistic target lines through that high last Jan. :-) Now I'm wondering if there's any special significance to the target line drawn from the low in 5/97 thru the high in 10/97; I can't seem to tell for sure if it's broken that one too, but I think so. Then there's that uptrend thru the lows late Jan 98 that MACR revisited in late Jan 99. A (sloppy) trading range? Geez, lines, lines, everywhere lines. I wish it would just hurry up to 64, before I go cross eyed. Duh, has anybody gone looking for an IL/ACT combo on this beast yet? FWIW...Alski

To: Cornstock who wrote (27782)	3/27/1999 4:10:00 PM
From: Doug R	Read Replies (2) \| Respond to of 79227

Hi Peg, The MIM on MACR is the formation from 12/97 to 9/98. 10/98 saw the BO. The run to 42 1/2 set the Peg line. You were right the first time. Remember, these things are done on a chart of monthly closes for proper perspective. If you shift to daily closes, you'll actually get a series of Peg lines as the stock makes shorter term moves. They can be labeled p1, p2 etc. While those seen on the monthly chart could be labeled P1, P2 etc. For MACR you get p1 anchored on 11/9/98, p2 on 11/27, p3 on 12/9, p4 on 12/21 and p5 (which then becomes P1 due to its significance on the monthlies) on 1/8. After 1/8 you can see how MACR responded to each of those lines again finally using p2 as support from which to begin this assault on P1. As it broke back above p3 a significant short term move resulted as was the case when it broke back above p4. Each short term move then found resistance at the next higher p-line. With this latest breakout, P1, the target set by the MIMBO has been reconfirmed. This concludes Peg Line Analysis...Lesson II Doug R