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

To: Doug R who wrote (28049)	4/5/1999 2:30:00 AM
From: Doug R	Read Replies (3) \| Respond to of 79227

The first thing that jumps out at me on the S&P is that it has the classic 3 peak sell signal on the 13 dRSI. 1/8 is first high 1/29 market higher on lower RSI 3/15 market higher again...RSI higher than 1/29 but lower than 1/8. That's bad. Sometimes there's a 4th high on another weak RSI peak but 4 is the limit. The 34 doesn't quite show it but the activity there somewhat corresponds to the 2 to 3 weeks that the Dow is showing as the time left until the beginning of a possible correction. There's a very well defined triangle on the 13 day RSI. The upper line starts at the high on 11/23. The lower line starts at the low on 8/31. These two lines intersect in about 2 weeks. Yikes. A break to the downside would be the start of a correction. Again, as with the Dow, a very strong 5 to 8 trading days is necessary here. Drat. Doug R