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

To: bdog who wrote (29104)	5/5/1999 3:10:00 AM
From: Doug R	Read Replies (2) \| Respond to of 79230

Bdog, GNTA was one of those failed signals that we'll be seeing more of. There's probably a couple days where some stocks will be able to make strong moves but a big % of signals are going to fail. Hitting the ones that don't fail will be more like luck. The S&P 500 just lost a key 13 dRSI support from a position of relative weakness. With a value of 50.055 and downside reaction to the loss of a support line probable, the technical profile is on the verge of accelerating into nastiness. There's one line of support still unbroken at an approximate value of 45. When that one goes everyone will already know we're in a correction. The 13, 8, 8 stochs saw 80 as resistance and is about to cross down. The 89, 3, 5 has a knee to the downside and is about to lose 80. The 4, 3, 2 has a hinge that threatens a downward crossover from a very weak level. The plex is in rough shape. The scatter is in a position to signal a hard sell if there's not a REALLY strong day tomorrow (which I don't see happening). Things could happen pretty fast from here. Doug R