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

To: Magnatizer who wrote (28887)	4/29/1999 9:38:00 PM
From: Magnatizer	Read Replies (1) \| Respond to of 79237

Market magnets 4.30.99 notes Dow: Still sniffin 10947 mag without touching it. I don't like to see this sort of action. Coming within a hair of a mag and not touching it is a warning sign. Shows me sellers are jumpy. Weekly buy is still in tact but the warning shot is heard. Nasdaq: Did not fill gaps and did the opposite of the dow today. It reversed up before it touched the 2497 mag. I know 2-3 points seems irrelevant but it must be noted. The failure to touch this mag was a sign buyers are jumpy in the naz. Weekly buy in tact and I think we are gonna see a nice little run tomorrow. SP500: 86 line tested and held. Weekly buy here. One more run at 1368 utrend will likely define the top prior to the correction which is likely to occur early May. My best guess is it starts May 10 but many, including Doug, Carpino and Favors like May 4-5th so I won't press my luck. I will only be playing short term trading longs here. NDX: An attempt to return to the 2172 utrend should occur soon. Weekly buy here Mond Tues Wed Thurs Fri DOW 30 Close 10690 10719 10832 10846 10878 day prior Monday Friday (if sloped) 9651 -1039 -1068 -1181 -1195 -1227 9905 -785 -814 -927 -941 -973 10158 -532 -561 -674 -688 -720 10279 10316 -411 -431 -535 -539 -562 10411 -279 -308 -421 -435 -467 10513 10583 -177 -189 -284 -281 -295 10679 -11 -40 -153 -167 -199 10947 257 228 115 101 69 11239 549 520 407 393 361 Nasdaq Close 2591 2652 2602 2550 2528 day prior Monday Friday 2055 -536 -597 -547 -495 -473 2241 2249 -350 -409 -357 -303 -279 2304 2310 -287 -347 -295 -242 -218 2316 -275 -336 -286 -234 -212 2386 2377 -205 -268 -221 -171 -151 2497 -94 -155 -105 -53 -31 2591 2600 0 -59 -7 48 72 2625 2659 34 -19 40 101 131 2655 64 3 53 105 127 2812 221 160 210 262 284 2970 379 318 368 420 442 3127 536 475 525 577 599 3210 619 558 608 660 682 SP500 Close 1357 1360 1363 1351 1343 day prior Monday Friday 1162 -195 -198 -201 -189 -181 1199 1200 -158 -161 -164 -151 -143 1223 -134 -137 -140 -128 -120 1254 1255 -103 -106 -109 -96 -88 1274 1275 -83 -86 -89 -76 -68 1303 1307 -54 -56 -58 -45 -36 1300 -57 -60 -63 -51 -43 1340 1341 -17 -20 -23 -10 -2 1368 1378 11 11 10 25 35 1427 1429 70 68 65 78 86 1447 90 87 84 96 104 1593 236 233 230 242 250 NDX Close 2210 2261 2207 2150 2119 day prior Monday Friday 1888 -322 -373 -319 -262 -231 1975 -235 -286 -232 -175 -144 2030 -180 -231 -177 -120 -89 2084 -126 -177 -123 -66 -35 2177 -33 -84 -30 27 58 2172 2193 -38 -84 -25 38 74 2269 59 8 62 119 150 2362 152 101 155 212 243 2454 244 193 247 304 335 ht david