W

....l..L

S'jJ"'lJ",j~,CTS·i!'O

N''I'W UlfO,':'K O~To;""'I'~,1\ .t"!:Q:W 'iji',) M,ia.~fll lJOi'iI1J~if'I:tr"llN! COMI~Dw..I.T.IIIIIIi,

''''~t<D

....t{

;S·~I~z~';ron

W.
82

D.
WALL.

GANN
.S'l!RE'E'T

N' IOiw Vo:FU( 5, N .:

v,

1~ t no onl.y exc et a d.ane',e. AU 'Power unc:lQ'f ~HiI~v~n otItld 01'1. ~Hu·th urn't,o- ·th!l!' m~O\ ..... rno.::Itcn·;:: the, ~imple, ':1:\01 sci,enc·1t! ,e,t. nt(lth~mQtic~. E:m.(!;l"' !j. (.HiI, 5 Q id:' "GDdi doe:; Lnde ed ge ome,t r i~'e. ,,, M,ot-he",. ""he rr\<.1;r11, .~.attl: "'l'he,Ttl i e nQUd,;rLg in ttiJoe Iln!:.ver.~e but mat.liemQtic.'Cll PQ~fit~, II PythagO:tQ,5, ene tit the gnQte~t JiI1;Qt!HI~ mat :i.cian 5 tJlLat &ViijT ll'ii'od.. aftar eKII¢l"' ifl'i~!'Lt .it'llg wUh n~m~e:r$ 'Qn~ flnd$.nQ the proof~ of nil no.tul"'Ql hn"rll,,j said: !liB,@ior'e God. ""'M :1'r1.um:b<i;!l"S .• !1 He bliJ1l9'1'ed th:at H~~ vi l5,,;'o. ion of ntiinbe!i.'!;! <n:·,(lll:i.'h,d G,od 'Ql'id the Dioty. t l·t ha~ be~n $,(;dd" '''fig\l,.es don't li'e." M,en nova b(;iel'l cO!'lvifl~e,d tha.t l1I.UI'Ill.b0U t~ll·tlite truth. QlIld thQj~ Q11

iii

tf:ia. t h~Hma ti CD·

qi.'YGn

pTo,blem:!

can

be :!'ol'v.ad

lo,"l th'Elm.

'I'll¥, 'Ch.i;linl.~st·~

e'l\i;l1 Ile<<il·t. Q:~t'.o~l'Iom.G:r ·"I;I;~l;.t)'d be- lo·$t

wi thOu. t t.l:'1.@ e e ien";:(ll 'Qf mQtheln'l!o. tl cs , . proble,lna. o.:nd. qQ't c Oli"i"DC tans".,e:;. a Q,no. :re~ iOtl"Oflt;,!1ilI se hw people :rely on t.h~m to rorsC'o.st o,,~ fQ,l t \A.J'~ of b'l;!·~ ifI.~·:l:3 .1;. t:'cN:k::;!(J,r.l(l CCiimiMidlt'l Il'i,a.t;ll;,e'il,. Th0 btUL ,i e pr 1nO'~-, leo!l 'Q ..... l t ~ QQ.sy t e leQr:1"l Q.ndund'er~ tORd. No .mQ t t e r wh'a ther 'I"OU ,Uae geQme, t ry J tr 19O1ltOme t ry or calc·uhu .• u!.1'O ~h~ ~d.m.p'lHl rtll.~Dl ,Ctf' QI'UhIlM~ Uc. y.ou 'ci.e ,o,.t.\ly two th. .. t'lg~; t
SOl\'8

IHllti\!

It 1: 60' :I Imple ,and go'$¥ to with. Hgur<e:91 .l't'h,at it· Sg·t:i!mcij·
j'

y~u increQse ...·hich tr'Qd~

you

s

or d~ereaa~.

'fh.r~"t'i an:l' twe khid:s;oI ~i..nnbet.!iI'., od.d Q,nd. e v an , W'e ad.c;l .n~pe.rli!. toq'9til .. r, a i.~ {IlLCI'!lQ.:ihli'llQ1. l<J'~ IntiHip1!.y. which is ,(1 6Jio':rh,'r way to Incra-,e.eHJ'. We ~q,J!b""hleb. d.ec:r'ea~e~.J and 'We divideJ wPlich ",l,~o da¢reQ~~=,>i With th.e: l1$.e of 1I1I19'h0'r ,m.a.tl1L';H!iQ.H~,~, ""'0 lind Q, qulckel;" Gnd e,a~i,a:rw'l1y to divide .. subtr(!lCti.c,dd

,and.' multip'lYJ

'l,~':t vl;lry :lllnpJi.0 whon

you

1:ll\!;'l\i!:t~tQ:n'd.

i.t.

Ev,erythinQl in I'IClJture is JilullE!ilt\d iamala'.J white and b:1Qe'k~ har.!l\cn.y of in h a l'll'lo:n 'f I T i goh t g,nd. Ie f t, Th,e inI~ ltk@t f.I1L0V; <:; '0'1'11 y hlO' way::l.. 'Ll P (iLnd down. T'h,e:I' {I three dim-en,sioQ.:3. whiel'l we know hb'U!' to p'tove-- .... ·dth .. length, i end height ,. W,e us s thr~',e fil;l'IlI"I9S if! geo.mctry--th9 ·drc·le~ the .~q'UaI'eJo,.n'dlthe triangle. 'We ,get the ~qu'OI'e one. tl'iOi.ngle pcd.fit Ii: of 0. circle, to detBl"rnine p'c,$.nt5 of, t i,m~.];lrice and .~p~c:e r·e,s,istiOl'lc,e. We UBI! thE!' circle of 360 de.g:r~es t,o ~sO:~!.!:i'e1'im@ o nd I'rj'ce. 'The:re anc! thre e ki]ilds diQ'Q'on!l'l~ Which w'e use for
of odd and even
(l'Qu,~e •

(I

HI

of

!1TIlea!i.urIng

Qn9'1~5--th,e time

V'lSr

H cO;l,~ t he hOT i 7.onh~l

j

l'Iu.r;n.b~rs:. e 'tl'et not t

ahd, p!riG'€! rnOV!Ml'I!ent~, \{'9 use o.i:I.ly th.o .prooi 0:£ m'Q];'ket mov,ements,;

an.da the the
but

SqO!ClI"9

'th·;;:!'

,o..d r'E!cords Q·f .]:>C:~ trnoai'ke ,t .l1I\ov-emerlt~. T'h0 ru.t u ra ~ iii bu, t Cl. it{)p'lJt.i t ion 'pCl~t. TI!L(n:,,~ 10 !'IoUd""(1 now. A!I:l thE'! tUble ll<l.Yil~~i;'1'h.Q thll'L(I' t ho ; !'IClth H ill tl\ot whfc·h. ~h'QU b!i!." Hi~t()rv repaa.t., CIne:\. wit.h GhQrt~ Ctn.d J·1.l,le~ ...... 'e' de,·t'e 1".(l'Ii fie when c.nn ho,...· it Ls gooinq 'it 0 repe'o.t. 'T'I'I,~n'Q fOJ:"El ~ th.'Q! f i r-s t Clnd mQ5 t impor:t on t pe in tt 0> leo:rn ish"' .... te make chQ rt a C"or.T.'€!ct1 y' b~cQus. e if you. m.o.k~ ,On
ChQ~'t~.

Dfth~ b&Gn"

e!"~o:r in

the

'c:hQrt~ you 'wi 11 make

'In sr.ror-

in

a.pplv,ing

the

·:I."'uie·, to your

tro.d.!.n9.

Y'BJt.RLYC1LAlt·E.~ You ,.!J;hould lcc·o~ u
.-0ZZii;. -_.-

made dUl'!ling t.h;e O·.ll.l~iD,j"a;l- y{l~l" il;)n. on e lino.. Xh,e spa,o,i"fi.!; f!Or thoe -pri;jiJ'C!. cau. be lili1ledl 'oVJ;~point to e ~C:h lie i'n.ch er two ;point s or m.or;o,e:.c~ Ql'dill. g: -bo.. th@ ;act i'Vi ty and. l"p;n.~,e Q,fthe
&Etii'

t,hi!3 e,xtrtlme.

l'ClW

an.d thJ~· ~Jxtr'etiVJ hi,gh

YOfll.·ly

hiGh. nnd llO'll(,ohliWt.,,:tha:t
pl:i,o
0

is,

r6oQ:rdln~

stoQ;k.,

MOUta:L't

most- ir.nportilitl.t cho.:rt ,of all -in det-a:rminillg t,hGll1!llI,in t..'w.nt!'. '.rhi Iii o:h.I!I.:t ...rea"O,r,.,dS the ,ext. lZOrne h,lP-.,.':,.00'li;~ , ~xt'~Omti.1QW,·price'f, ~'!r thtii .eu.leon~ril.~m.onth ~n one l:l:n,e'j,e.ndeo.cbBp~~ OJ:," 1/8 :l:rlch '0110. the c::r:·Qs2-s.e,ot1€in oh.~rt p.atp'.!1lr~'h.ould repr QI::;I ~·n.t o~.\t) point or ;illL po r B liIQ,r.G! • WEEKLY CR1t:R:T': !I:hen.e::ct
jZ"

(lli,!B':{':

Y'lf!i,ll, mu.:s·t; a.1W\a.ys kllle!l up

s. )l1.Onthly

hi ;,h

.flIl;d.

l'ow e h:art.

whiel.

i$

tbo

One oith~ 'V'O.ry 1m,p,ol"t€\n1; oi'i.<lt1:'t;s: to ko'l)'p is tJ. iI"~et:ly 1 ;::- , cho.rt.. ~J'hr;l.l"@ .st.{).e.ks ,a't'·~ $(llliu& ''00 .O';'} ~O~ '1t usuaHy plly!! to mo.ka~h-:L$.oha.ri:: usin.g each 1/13 inch 'to )'op:r'(l30nt ·o.nlilh,o.lf 1'loi'l1i:~,or ... two s.po.ee'a "ho·l1'fJ'prasen.t (n1.$ tull PQin.t~" or fool' poS:nt:s: for eMh cina-inch S~'(lC:O. 'ml~:Ili. stM'k-s DQQO'lM 'VfJl'Y Mtivt1.", Gspeeidly wh,~n th.oy .ru"O ;$~ll1ng a"bov@ $.1001 pn iifi!Ll'!:!, 't'h,()II,YQ!ll ¢;en lua~~ '~pth.Je woo ~ly '0 h.'I1Irt- ru;:i u.g o.~,I(.:'h. ao e or lie inc·h., on th@ i3p oh!l.rt. p.flper ·tq lI··Q·p\r'i'ls.ont onQ point Or $1 POt· s'ha-J"o.
"r

and

high

mtl

low \l:p

:s.E!ln·...;WEB.1.Y OR '5:']DAY CllAElT ~

ti.'I;lo:cC Co h.tl..l'~ ~ r' :i'!;J1:pOl'~ m';.<til. -t 00 thljl ,.~OQ kJl.y Cb~l"t· is 3-dciy ohnr't;that is, ·t.t:.ktn.g t.'bQ oodl"omo. high oiIl.,d e:x.trem:Q;low p:rio.·om;D.de f'r·om. tho QPo:nin.~ of' tho 1$lll'ko-t on: N.Ondp.y 'mQrning untH tho close. on Wf;lanesd,Ilj:"'night", clo.sing t.no ohel,,rl onW'!Jdlne.sdfl.'1 nigh.t- t:hon fl"'am the '''Follin ~ 'Ol'~'lrhui' ~dnY't Q ·th~ c ~oseon Sat Ul',q.IltY'. f!kin.g th«!l~ ml'0mO hi g'h '!:IiM low a::nod t clQ$in.g ·th~ ch:e.:rt on. Src;tUl"d.!l;Y. This givos you !l. -uimr:l ·P9:riod:sho1;'d.11~ 'Qrlo-null" 01~ thO' 'w.'Q,e~. 'Thia .ohar-t h "w.n;y im"p'o'rtc"ut Il,fil;will. b,a· Q~pia.in9Idlo.;tQI1'·onin tuo ·in::;l'tr·~tio:tiJ.s.. 'i'h@ ·s:plloi.n~ for' this c:hw-ti c eru,b@ t·h,o:;;:M'l .. t3·!l~ fQl' tho. w()o\l:ly M.gh . .tl'iJ;d lOW' ·ch.~'r-t~

~h.0
0.

i,oW' :!'tl:D;:" t,h@ 1;'IOQk mUI ·the o.x~ tr'eltlm hi~ .tor t.heweek and. di.~d,e by .2~g;et'ti'~~. the hfLlr.-v,ny or m{l.an,point rO,t the wBI·ek.. This: eunbe' r(lOordeo. on ·th~ i'lO~kl:Y' h,igb ro:r.d 'lowch.o.rt o;rou - (Ie sepo:rs;t,e ,cn.lll"t! r·eoord.in.1; the Wa!}kly M01li:ng.-Ave;n:'ri'J.f!li(l with, a.. dQ·tm.d ;u',s:m.g Ql'I:O line on. the tho
oxtr[).Il1i;G

~o· tot~.

Wookly:hkrvin.g

...A'V'Or·J;li,go;> tll.ko \"1'0

anan

.for

G~h

.W.Ei.e'k~

ll.Oij;lorl,f);n.(i!$ of'

t.hia; Weo~k:ly

MpAA ':Poin'!;;' 'l'ii'ill

l;r~

s;x:J?lo:li.no.d. le.te

lJ.J!tL:r",,~l!J.RT~ Vlhen yott l"l"tltrnd-it:l@; :in astoek tJ1Sithao"i~,. you sHo·uld. t:i..lway:s kO,@il' up ~ dLe.i ly hie;;h. unq loot ·c.h.a,j;t ~.-l:J~ ;:('0.1" si;;'Udy J;luri;l0.Ms it 1,.1': Gnou~. 1;,,0, ~pup the Vi'@~kly W'ld' ~.:on.thly Ch:rllrts ~ '1rh:ich gb.re; yOT\1 thil ;m,ain ,i;a;·,on:d. ·'th!il Dc.:"ily {lha~t· phoOW5 th.emin.oi' tre'l'Ld ~d shot;s .6. o'han&e.' in trona mUoh 'Oft.anal" than: W'l,y Q t: thE:! ,other eho.rt e , bl,l;t th~ind.:t C:Dot· i(ltt. d 00 a not' 1a.st n.s 10 ... ~ Dr rtlU IIIo far.. Th:l. i> c hlil..rl· :shofltld; 00 kept-upthO' .~t.m.t'I Q.S t nQ Qtho :rti .... 0;';:';;' IOpt ...rn.,u 3t·I)C ks &:r ~ s,r(I,lling: lH:'llcw .1500 r wh~ th!li,Y tI.:re in an ino.ctivo Q trfl,di-nflj 'l'@,g~- thonthospo:cing shQ1liild. bu,l/2'-llOiu-t 'to ench l/S-inch. ~nt;h9'ohl;l,rt pa.PQl'. o.llowing two· SPlleO:'J ;;'.0 t'Oi]?r!l);80·lti,t eno tiltH j#Qinto'l:" $1 per shar o , 1'f1;l.on.s:boob £i;.~·e· tin Mdt M'~I!l!'l.Gitl~. M "iI'Cll:'Y' .tn:st ~ l'I'!ald.n!'1; D ~¥id~" rango 6 ac h d!~y ~ 'bhon YQUG an ma:lrm t no D.IJ,1i 1;'1"Gh.·at"t ·the ;S.OillrIeo tho W~okly '0'1" Mon.t:hly I that i!j1';o u~:ing On.0 po1'nt ·CI"S t'Ot :a.o.ch 1/6-i:'O.ah Ion th0 chart· po..por,. 'fhi!> ~p€l4;;.!'O.g ~\lIts thl;!CA!lI.rt d~ and ke'O'ps it in (l; !'!Xo.'go wooro it ±s ~asy to aee W"I;rl 1"'000 ·whQr.! f'h~tu~tir1'n~ VLl"1llw:td().
'No spn.OOS (1.1"00 s.kippod. on. '1::110Daily Ch!l.l"£ fmc holi,d.c..ys -Or .8\l1r\i:lnyu, therefOre tim.o p()l'i,odl. ie· j~or o.otuc.l. mn.rk:~t d ..... c.nd. n.ot oa.JL·en.d.nr days. How·ov,.:ir". you yS' ~h~~ld Clo,r:ry tho C Q'!Lond!.(l,.l' doys ~lo'n~ at l·oa,:s:t 'OVi3ry 'tW'O w,e'(i.ktl, M lator .;. lIl!lo.,e:r .rul~s t-o r ;;[':1moPo rlod s 1'0 r~h~.Le in tr- ~nd , if'ocl;l.wi 11 tindth Q,t i.t it n.oc es:~ 0!.r:Y ·t.o, c hoc k 'Up ~d mo\'l' When th·o s;:' cc k i~ 300 ~ BOo ;80. 1 OO~. l:SS J Qt.c. d.::I:y$ fr'!;iln c. t.O]? z thO'

do.ily

chari;;.. O,rton tho Do.,Uy Ohtlli:·J!.i en. .(lc't;uo.l d(!:.ily' Il'lovem.~ts 'OO'IDC::>.:!O out on (':n ,axact: mnthemo.ticul ~g,l{il oftiroo ~r.o,o.su:r0m'~rlt a'b t:h.0 s di:l!,.Otim!€l tn.!) c::tl.mdnr ,d~g cOiIm out on o~,c.Gt til'(lomel;l.~i.U'om~ntl! tnnld.n.e; it 11 doUbly impoT'hncc l?l)int l'orc.ho.ng'o 1.n t r.ond, ..
GIDO:ME"fRICAL J.JfGLES
....
•' -Ii

a 1"

a.

batt

om.

vJhio h

'IinO::.n!J,

e ~ l,.onQ1!.'!,:rd t\Y'S"

tho

o:t.:;.~C't

llUl r.lii ... ;rQ:mQn:to

f ':rimo .fa 1" t r.tI

~
,.,

,i!i1.,..J~:iiI
iI. !I' ! .....

.., •• pI
"!! "!

of!

""""' I ..,

..

+

Arter loJ1!.~, yoo.l'~ at' pl-t\ctical experitilnco!'l hevl); d.bcoy,el'~d .An~1*.5 me:i.\.sUl"e I1J.lC:c·u:rrltelySps..ooijlinuli VohlJlie and Pr_ice.
j

that

Ge,ometricce..l.

Mo.th.G]JUl.tio~. iB, th0 on.ly- e1:1tfi.Ct 50ie;M'~ ~fJ.,s I h.~V'f;l,s~id b.efQ;r,e, l!krery nat:i..oh ~ en the face of th~ e·o.r!:;'b c.g,reI3S that 2. ond 2 'make 41. no )lia.t-te:t. what lWlg'J.:C-S'0 it ' s pe uks •. reb a.ll ot.h(l::r so i6'nG e s are ll.ot in ace ordis,s :rtIJ:o.th.Elili'ifJ.tie.o.15e lone <IlI~: - Wa, find ~1i:rt"el'e'n-tillen in d:H'farent I?rof~s$i,!'Il,!; el.onr; so.ionti:fic lin0s_ dia'il!;re'ei::q,s, on pr'QblJoIl1B, ~but thore o~ be no dis[J.f.l;r~~ilV.!'!lt ill math0rn.o.ticd o:nlculilt ion. • '1'ho~a I!l4:"Q seo de'~:rQQs ~:n . 0. ci.r'c 119", no mlld'Gtar' h.cw l,e.l' ga, or how ;small the ciJ;"-c,la mOo.y"bo. C·ort (lI.in. n u~b():r sot~hC:) e () ,0. e e;r 00 S Wid. v;n g;lo~ n:r-o 0 r "a~,t hl:lpo 1'1.; uno e nnd ind.ioo.t(l, wh.~;n irn:l?ortant tops tlI~d bo"fo~5 QO'ICUl"' on stQok.a1 J:l.Swoll Il..S d~noto impor1:;,unt .R~~i$t~o~ 1"v01s;o Wli.(!InOlti,oo you hnvt,l, tMl"Qugb,lYI'fI.[l.lf.ItlJi"Qd tho, O~01iIIotl"i00.1 Anglo;.l ~ ~rQ'uwi11 00 ub:lo to solve uny pro,bl~ftI. o.nd d.~t.~r:mino thu tr(,lnd. of ImY' :e,to~lc. Atter 3,6 YG,.a:r's Qf i'"e,t>1'HIl"'ch.;, t~'!'its and. :pr!il.-o;::tico.l fipopliee.tion:.s, I ha""e, P~r'~ fe.ct·'Old a:iilld'prov~dl the m.'os·1t importo.nt ~!l;lQ,s to be uso,a. ind·otoJ;'mini,ng the treud or tho· st 0 C k~tark<!)t ~T'h.01"efo:t· 1';1.. C one on t r o.t Q a.R th,QS 0 an,(1;:ltil S !im.t; il YiO U tho rou,ghtrulkQ

lyun·d.Ql"st Wid t:h1om. !I. aucoo,sS".

s'tudyr.m.d.o::q?(i)ri:ioon;t

,'>'tth eeeh

rule l g.ivQ you

J.

end :you' '1'0:1'11

W{I u.se S5'ol!lei;r!ee.lmglos t~lI'\e,&i.iSUr'O' Spt'iO-o and T~e]le::rilod.:s because it is 9shiGrter ~.d qUiebr 'metno,d, th.an, ~.aitiiOli:b. QI" lilultipU.,c;&t;i-Ol1,. ,pl'Qvided! you to11oil the: rul,es and draw tho angle~ or Une~ fl..!:>Cl.ll'fS;ceoly froill to:pa. md "botto!ll.sor oxtramr;,. highs ,~d. lQ1;ilS" Yo:u may ma.k·Ela mi.s;t.ak:e ';in.. Rddititfn er tn:'O.lti!?U.c:,ation~ ,I:tb the· g;eometric;('l.l twlgle:s Siccuirc..toly drawn 'WilL. c(')'~l'!"IHrb 'thi3 mistnke>., FC!,rex;e;mpl'l;g If Y"Ou r;;fl:(]Iuldcoun.t ncl'"O'·ss the bottol;1. of youreh;art "l20 lrpaa 6S ~ whichrel?I"iEhs~etl.t~ 1,2;0 da.y~, ''!\i'eo@k:s, Qr 'mlouths"then you begin ;nt nair OOld,n;\lli'iIb,o,l' ) vertically IOn YO'Ul' g,hi1i.X't, up to l~O~ then 1':rOlN thh top p~in.t; €Lt: 12:0 dr-Wfl' 0; !5-ilog:r",eOl!:!l~:le mcrv5:a@; dOW'.a, this willc~e out at 110 Iii on 120: ~~i-nb's over 1'l'QUl. th:.a, 'beginning.. It you have ml:l.citc·o., i s~Slk{i in Jl!,1;lffibe'T ,. tbis rill m in.S 0 o);"rElet i -t • its
lIti,;s

.Anglc;8 dl"uwn on 0. oh!.nrtfilwnys koaphotorl'li ji'QU the p(;l:dti,oD. of' the stoolc fl.n:a tro'OO. whe:r e as if you hw:l! a. ro s"i st ~t'lIc·,epoint; ont:illl.A;l li'O:i.vt ~nd.O'o'm~ YOllll'li I.'¢it 1.0.1' it or forget it but th~e angl.e,s al"O a.lwnys on 'bhe ah!ll"t i,n ,front ot you. t·

mQ..kin

Qr moviug,-avo}",il.f;C trend li.'t1.oB co·r:r·ect"'ly g tni,sii: .nk0' 5 01" mi:;: ,j'lld(Smg t:h~ tT OTU.11. • :r: l' yo u we. it find anglos will "how you when. 'l:I1!.b 'trond G'h.IID&~os.
The, mCnrill,!;~~"I\f\erD.fiiO

1b'$~ o.n,gle:$

fQ 110w yo Ur'

drlXlllU

will

keep you from
l'U lGC>~

t heo,:Hl

pric

<1;:1; CJ.oUW\~nly ''IJ"s'e,(J: is ob"t:ui.ned. 'by 1Juk;!.nE:; ·tIl", o.ztre'ti\:G lOW and th~ Q:;ct;.rellW hi.gl:l pri,;'e of ttHl {;l\lond.C!.l::' dQ.Y'~ "I'UlQ\c oX" 1I:I0'nth~ Gn.d a:.irld:iu~ it by' tw'l:l t'ICI' ,get the llIl.@CUl. O~il:'\i'~4'"a!l;.e :pl'i¢~ i"Ql(" the d;e,y I w~'ek: 0'1." m.onth~ and. QOOtinuing this ~t. the end :of efieh~,ti'Ole peri'od. 'l'his is an ir:r'og;ulo:r mov~'i!il:ent };n. s:pa.cesol" points pOr.' w'06k b'i!I,ce..ws.e- CIt: ono time ..i~ iJ"I:o.ym.oY!3> up 2: point:!; per waGle
$

ilIlU.ll'ro.o S..e-h~lf ¢:l' ' 1'2..qu.[7' I I I -I-I~ --.l e.Q. S'q:u.ero5 'po1't'rt. an~ therebjl' p...l\(j./ '" . ~\ r~' . I - ~I--II..Q !.AI"/ '.f£Uhl.?o:r' W'oo[. r'uns -from 'r'u'anin~ o.h).. into~o To $et 'thestrong!'tst Dquel lllOoIt and mo.""-.t 1~14ll hQrizontally a~rou._ ."._" _ ~ - I. di'vidc 'l'. ~ IX.ividGB tr. :. E~ {lQrn. . 1 ..rodlJJl. hngth. 'I:V'hi1.::J '). .n Q. •.vo." . eire ke in it 1!. up !'rQ~ Ul14". horiz..../1'\ I J'" .'cs'llte an.-'~ th.l'(lth II'l[l...<...'(Ji we divide ~ tt into two oC1\uo.-.r:ti!onn:t..n.~!))I divid'G it HJilQ" l\foi:Q ~dl!l ' m:~rk~d UAII wh.t ~oin. II L_ ..l i..i.Q J..ioa.and 28 'w'id..l Squal". t.r"~ a. I "I ' I -:'l:-:bk:--"{'"}!-" Ii ~·. '" !Jon.o{.~:on nlly . ft. .l I'·:' 1 i 1/ l. tAO..1.. drew ml"g Ie . ~~:h - .. -F~ I rVl -." .~ ~'\lir:min.st impottro. t.' 1 • r-.g:ea ~p'[tf'\to n:p c.~=I'-II~.t tho OXllct hr. "-rot. ' '" .j.halt"t.N'. PfJIl"ts by dr'ri:l'ling 0.' .s width..8~1.~ whioh -illQn. 1 .l'ts.fl"omt'bo . __ -i~L. f'..r'_ I .@..he: Ilq\l.. oomor t. 28 "~ross..l.~'-··--I-'·' .l.S':t"tl geo'matl'Y: The kr:igle~or mOTln6-trend-H1Hl ..d.1' ..c al HOW' 'TO DRAVf ... the Sqllare t and the·T:ri.'··r' /""1. '.o:r) 'C:rQ.. andl hG-itht '.\'~y Foh'lt" You a oo by thh th~t ~f' Wg d.: -I " .r~wn.hf. n..' .on~lo$ !:. -"' "-"1-1" . d.p.! .'..c.".ll. or thee ire Le .. dC'i:'rtI at.n~ divid~s !lingle.. which is Cl vorti.(\l'e of @ 28. boil-:.7 I I I . Thon not~ ongle.~ - -~ . _I·__ ·_b-.H. word{>.lr-. Tht~ Cr"OSsos. w~ '0 an :l?l"Qve.1.". S . W•.tn"t'e )rooiIl 'Which ho.J. R~f"~ .\le.• .hi. top or :D'Q'll~ng .l Q.v'Q aqu...r.I iH .l"C in:to' v.l:o.e:nd.s ..8 hi.lJ.'T'b..t 14" \'lh$rct.EV'Gl('ytMn~.Cs the TriI can.lli'GL'ES.. <D.i l"Q:I. 1-I-"""-~4=.~ - I _i """\1- I : .\.n:l.a:in:~ tThe" s.. '~~~='~ .!./ii''Cal" I have l!'LQdothe $q.k. Ll.V!il!l"a~es -nile..' Th:i s i:s a d i agotln. I: -?'.:~--.li.I" ..rts:."€! 1.cbj.-.O l' 'or hlilf-wny point.tly" 'wGskly 0:.- I II- ~I 1_.. h torn\:3_ci...g-D..tolll or rloor. •-. an unifot'1:n :i'lfito from any !bottmn 01' '!. --'1.~ ~ It'J. _ .: ~ " ..i. to Form \11" '" whQre ha...i.\!'!.n.-I'>! -"~ I iJ..s 'lI.l.'1 t~li?ort!.'.!. .e 4iam~ter..J_ _ I' l " L ~h ! T i'.t this is: 8.1I ..rts.NotE.\:hu tim"" F'Ol"'iod iilil 0.ic.~ual'S'S iiI:u'to 1>wot:lClUtll pa:rtstllnd. 'l'hh divides tho S'lU[l. _1.'f. .. Wlgl(l::>" which Otro l"'oill1y m.op' 011 . Ii:. 1'h.nn.-.1' ths..:" monthly c._ 1ihEir. .).J _ - I - I .1l0l" s. .t:.. ' :r 1=\1-='1---+-1'.-1..l.~""-l~-. •.le. pilrt..ich GMh 01)...l p.d.f. .Md dd·e wullr."" ' '. .GtODTR1C ~~-~---'----~-..l lin.... ..J-. l' I I ..(.. I-I.ts tnl). " l ..)'-:r~I-"'. I:J:QU .~.::i" d i v.""nO.[l.d . Y'ou 1'11'1'11 note the.:tr . enothol' foro goornet:r:l.I I .I . 1: '..e: Wld.tl.~1__ 11'" --l-Iiij..-.lll' 11l1:)v. is the samaas u sCl. .l l1n.!..l l.--: __ "".ime :e.0.l po..onta.no·~h(!lr 459' ~{'..:th6m~t..i:n I} twrO oq U.o..v~r(l.~I-1-1"'1 _.o part$.nd !D.. 28 til points amilo. "" . HI--II-:..' ILl._1 '-rs: T -~h I .ottlo'VlliI$ 'Qn_ 4$ 9 o:o'~le.'11 o. 1- I!. tnt::. 2e ill? ..S5inG 1"U.nd Price in:t.of t.. =II - .~I---'--.id.' J~L A... "to dill.whilln -bh13' l~ge Squo..1!.rt.l"<:!int'o two equi!1.' 't' .gh ..r.in 9tn. /' -:. oth~'f' .o propc)".h6. rO.~ _~!I:_..t the e on1..1!.. .o"l!"in.l· IJt!.cl i I I .r·~iW 'hhQ :r:iLr~~ lino thru the '0 ont~r.oll. I I I II I -I_~• ..-rl-~. tn. 'IIB~l'ill..am. th~ (lircl~.

scorner .ee points: under the 4'50 ancrl~.hi~... fr'om.he apacas on t-h.nl{.heengl.e it. is.:tJ01-.tt.5°' .he Imlr' keto Of' a s to och: ISL.he.i"'~CLiOlq$1 then by df'El..ion and ind. points up in Price.l ~i!" t.me Per i Od6 in t-o t.t the gravit. but .t.)!:5 fI9f!'i n.1 not... it i. Che. you look at. the angles er-oss . For example: if t..1 POINT RECORDIID BY A SmL .t !.nly one e..es :int.e of e x 1 dir-a.o 6 equal ~ts: and produce 8 t.tnt per day~ one p.8 we[ek.t om prO'li'le themsel.he meas'Ul".il. 30 . the 450 angle wi. It is at.!wll1iJ" !Lhe two linej.s by drawinl3' a.ing'l:y . this: Squar'e~ it i7>hould be easy for you to ten with yow eye wMre the st~ro.r st and ~1 ways mcs t .i:.Otck rests on. 'This is a 4~5..M!.llel aJ:igle:s beg-irmin[ at IDOuioin~ up . As.a'Ve:r~S'1i. OJ" the difference between MY low point and . 't. po ir. st.O~ toO 45 10$Que-half Qf' ~O Therefor'e ~ :par'i.:n&r:1.bot.) .esE.ron~er auppor t.~ it.. 4So.(i[lCe po. Late.hesi6 sooller~ql.ract.'im from 1I001li down both cr-esaet 45~ 5-.he t. ora. •. 26. fr'Q!'!'J each we d lvld.52!t 56~~ 60.mportant ~nB" loe: t.eo.eok. 37L It is not necessary t o ~Bl. t.e" An ex~mple'marked.th a.ill r-ecerve wi. that IS ~ the d ifference oeI"ween t.o.lO comi{'lg dOWl1 must er-ose one.iJh pr Icea .op 'one .ain hOW' t." All you have paper J ~ir:Jg On Ilhe ~Q~re of 90. '7l:!t.5/8 pe int..$· in a.we draw lines frofllt.use a st.1vtde t.pin't per 'i'.so' na. we di.angle or ".o four or ei:B':nt equalpru-t.he o't.[" t.rt.·sA~ 1 ()ni ·a:. two 01.es hig-her price~ .any hiih point i and al$ohow to square' thi'l bottom pr Ice .all t.l..ant at.y cent-er. 63i!.28 .andle. '90 a'€lS'rae-s.pp ot a.o square t.. stcck is 2BJ this Squat"eof .Iltt.e it divid~s tile Space anoj T .. YQU Ceil buy eVil!ry t i~ a.:n1({le CrQS5'e$. :Ii.ant from the other a'(lg'le and twice the f009Sur e. draw is a45-d~:8'ree. The :reason why these .:t.Uythi~: would be a $t.'iesby 'the po int .l€b~.ng€.Sure these angles with a prot.e t..t tfu:"~la pla<:ewner.ee: iP'rOY..he ~xtr@mc.leekor one point per month.int.ura..ern 3~i' 7i. These a. pOint Is Or' res h.75. ~le ora.emerrdtH:'lr the t'ule-never.he!" dI.ich 'to hey er ()SS " For examp l~ ~ Th€ .• 339.oget the. (See pa:g!1! 6) angle's to use when The fJ. .e.his point J . lI'oucr ang"l.1t.r . crOBS at lHr on .hr.l.m.I! ShCM$ you the most i!Ilport.locc:ord.t.!e.S above the 45° angle.fOOl because if 'We have 28.ngles are M ~15.r'tant to use ihdetet'mfningthe follows~ e2~ .l'lI$.oaJlg. and w:e mov. j.op lO$s order ene .n~·-. :1 could divide eachone of t.t he center W'here~ll!.or" to d(} t.s over from ~~Oll (:ount:ing to the right. is to count.he al1g1eof 4 x 1 down from 111901'1 ~ you wUl nct Ice .n~e of a st.le of 8 x 1 d:railiO from ~'Ol! and t.itca.st.a_y.s. the angle of . a.he 4.5 pO'lnts 'or de.t.es corr-ect.h these instruct io.2:8x 28 'Would represent squar io[ the Pr ice by T i.he Ra.l1g'e of . in'l"o foul equal !ptlrt. or the 'Patt.w. mov 1.h~ €xtre::me loW' and r.·wh.e'chart 6 ::t:: e to tTIie inch r am d:rawt. he 1 ~nes or angol. IiFor-m ?. crO$sat.gr!lH.oek is wor'Klng higher and advanc ing.li.4 x:.4. HDWTO IJRAWANGLES ItRO!'t~A_.s~ or 2121 mo:nths..ed. way hbecause t.T)gle5 in t he same ·way.. .• are irnpo. 0.ngl€:s that position 'Cit a stcck. Then.ar.iangle5 .5i equtd rat.a'L...show.$t support.Ile' square int. which YOiUw.rre" T'hJet'efur'€ 'When the stcck has moved over 26 daysJ 2. > when 1 give you the r-uies and e:<amples ~ I will expl.o eq ua. 'Price' I ra. Hi" laiL and. wiLl1 be squaring its.86!" The Square er 90.rong posit. we square the Price with T i..e ever 28 spaces in T. eng":l.es drawn from tne ·tQj:l and from t. 11011 and t.e how eqtlalangl.ang'J. that mDti'es up p.! ii.caus.

50 .g:o.o.' fJ!~ . ~ .~f-4=~~H---*!I'" ! t.~ '4.d (1. 1.k broe.-1i.:rt.J.OS...Ji.El'o1nt s :f"cl.*.'lg..o of! o. If' thiGti'ill.lwa..g1e) it i~ .ccuro.j!.d..'8.e. This is one of'th0eb..(.~ jl..)r wh. .rting:tn a bull market Or s:011iij~at "i.of t..plo:. ..Ill.n 1.m the bottQm md would crou o.~ :i!. 'thl1J115° ·oo~o diOne..tret'll en.r the lniOIVl.!..C'(l:.l']j~lo..i:lirtti-e..M.'bovo t:tth i.1:) low lil!V'~ ks: hi Ol:t" just stCl!. PQ:t~9d Ith5!n it' indiC'o. stock (jnth~~5\:) ~gll(J or . It ..xt ~tli'O'iO~is..~~ wh.! _jJ. ~I-.l Q:5~O 'J?hl'li.er-pol'lition th."'-ri-'--' .T 'r ! I r 1 I l i ' 1 1 F~L+.ie h 'm.' .. $tl"o.hQ[l 'tho .S!o it is (l \met a r this: nngle.bo low it.~d.e is ll:i!"o'l:oon.d th.l :r$.~1{'fu-7~1 I .1' e no o. or 28 lnon'l.tl.n.le into two' equal pe.yo:.! 1 .'st"\H. i'lli'l'po:rt@. 0'''' two '.'b why it ~.~". 000' '[:lQint..tT!·&!. ' i .' 'thesp.ac. otS: x 1..s: oXWIl.U1...l01(:s".:. I~ I.ing t'I. +H'~i 1 : -1.. YO\l.h.l" tn.c u1..~.caS.y t. If' this OOlgl..tt.n.. 1" .p lo~s orn!~l"on.:t.llnsy l'if'a.llre.'t...e.yo.OV@~ u.' .I) lCW'er. .U.!!..1'0 is tl ~l'd ~rlIlo 1'0 thm S po in t s o.chthe o£. 'I "1/ 11/ . ": .implQst to.'~t· by tr'o. 'bo"btOJit~ 't.Q :.!il pomt mld@r' t...!.\~~ th.tOlltl~s t. ~. ...I.i..dI.n&..Q ]put 'em nnd on.mOLE is tbe.at t... :...thu :'~ .".~ 45° OOJ.e VJ9l't.:U$-a.ll._4--. anE.. When!l st 00 k 'Or a·nks L.?: ill I - 1 I _I L.oo.o. JI.e..:1I11(jl. I .:l 0..ilIlglo i.O!in~'bth..l$le Qf2. i ~.~l.an. 1.l~''''i.!5lo:.. lLn (.i?(}R'tl'i]pr' .o'X'nrily Md the stock '1'11$.n'C tho mo.I:11/1.~o 0.k$ ~do r'o i tind i..1'9bec.. ltS:1i'ilfJ'lnber thQ rul. I.hQ!$.fl.~l:' . -".o ato.1((')'i t t..'ir'iI'~.e t!'t)ud h~~ chlmglil...~l..:t~ily hOVl to put on this 45° . i 'I I 'il.ek.glll1&:Q.nt wherc th!<l sto'o.·OIC'Ii:: ho-'ldif.s Md ll'I._ i !4 'I ..&lo thG :l"tioc. it is t'II.:l: t.o ealol1.'WfJ.Y rind.Loli'f..k wa::.:l' rate oi' 2.1 +' _1 __ :.to. c.1.ll"~' low p:dcos 1 1 Il. For sell it o.to·o....Ore. 26)'/(i.:l. il" .s.1 II..i.. o.. l~a.. o0. it: a .\~flllittOo hU.::)1.'~"'-'''''''''''''''''~r . . tb.. it' you $t i. by you wi':U u~ui. ~-T'_ . .'rJ.!I .s thBt it: will ..B 0'$'1:: wd iiI1. . to 'the l'ule-.-:J--t-l--4I.j NEXT lJ..rn. ]..:s: 28 df>yS. +Ml-I + .. d.'ls.1Q.. cwl. ~ ina.e.'ji-.EIllglo..an. o. 'V ' 17 V I' ..o~: No m8l.ace between.·nt: fr'om thopoi.:1: loo'llt tl(:iiln!. an.ys U${l $ sto. tIu.at x 1 ~ Q.I F"" •• ' -. l"osi::in.· I. .oc1 i nO to 'tho n o:cl. . Un 10 s 3 .a. +r+t+l+t+ T.!li"rltnd l'oo.t t!:.iin Wh0oD.o .t 28. As lo.gls oj! 45° 'm~st 00 28 pOlittt~ u~p fro.h~ M.: ot!.p poi~ts p~r d~'Y'r week Q!..--.11 fS.. 'mOuth.ittSt:.h~ 45° Ullgh:..

. this: stock.portMt to U:lO for ~irr.Z '!>!.d sto.0000.f· 'l.esbe.'t..O· @CJ:.e.lQ dr.:i.gh ~n.() hi 1..l:l: up 4..."I"~C~ !l . or t1 points pGl' 'it'I. 1~6ii OOld!l90n 'bOC-lluse 90' is stl'!lig. 0.. If' 'b. x 'i .. 1.L\'Wn in Groen" InO..:nill "Tory strQ1il. pe.:" d..ru:lgl.ny .f T·im. a .nt Attim... ~O ru'ld 600 o.o.lso 45° r. Whon We dhide 900 by 8 w~ ~ot "th.lQ.ANGLB it indic[l.cmce c..l' DAIlJf oru.ongle to 'us:e.l'iidQ o£ the ll'~..71 '.oos. iJ:n.e.tI.n. 22·5 and ::nS in Ii Cli!J:'Cle 13.. ly :56. i:hen g:tllrts to 1"0:.lmtlint:.11y it !Ilu.h.l pal"·t.vity o@uter '01" 'l'ime :rmd_ Pric~ • to uao an a:ng].t. 1n?V'~&.@.6..s:t'o~k ou~i1'l'l:.ad.~ ~ont. yov.J!sure S S. 11' stoc k h.Qntht l:bi s on. 0'0 Miou.C e m.otroud of' a .es art·o): 1I!l(1.i)j.y point O'r the &l'.lll>0 by d:i. into i.0'1'1' ch()J'i.'r'icets ~Vtll ho.lly on the ani1-.g1'l)in.bovo this o. 90 ThQnfcre >:l.do. ~ngle o:nr.'!:: imPO. nni~1a· i~ +1 X 1.~lo o.o.}o Mil.dr~t bGl1n1.ht up Olld d.E.. w'o.s~istfUl!e~ PQint:.rmt ...t .r any~ wook Ol~ llllDn:t.OO:l~10 Uq..•.6Q do.5 O'l" monthly chart it i. i~the is .lo'l'f engle" It i~ p'o.o..!:'h..M.. in :f'o. x 1 and.hatmovos up . It i.l"~ o.or Or 8 ..ll'€1 all illl.tl.s."b 0v(! this on~ PQr:ioQ.d V'W).ry -Co :put· on t.a:t w~ill movo up 16 l?'oints 'P9r d&Y'~ wiOQk or 1n.0' X ¥' .J:(ThlTJ OF 30 T'TOMS TO DRAW' AN'GLl3S QR 'MOV]:N'G-AVE1':/IJlE LilIES FROll Whilo thoro Q.:t 'with thEHHl .o en hold.d ~. 1 hom.h.:!l lQns..advQl1cml].porto.co e'CIunl 0110 poe'rioa: ...i~ 0.mglos. 'l'hi.l.t..T'kortu AU tboo' ·~:li. ~ Vm:Al' . th~ lb?t.oz.ue ~ t Q o.breAks cti1J_ll.gl~$ ·0£&' form n:t .a of 1'6 x 1 ~ or' JLEi lloin:t::: of :Pric eo to l lINGLE:.. ':l'he S 0 l.onth" nne.~eo h...lc:m o.on.~'h_Qr M-ttom~tlYo"l"Y dillY and M..(.p.n 11011 lID..~ 'm6nSli!:ring. Not(J the rol.t·o:m. .il.fj'.. o..th.h un.g.o.th1y end W'ook loy 0 harts.)oin't::s of SiJ).l of theWJ...ase.d vmrk: up E!D.wu. Cil1@.Q.nd.. Y.ngbs.a inth.i(!J.t·rMl.e bo't"'ib-o. Jrny stock i:he. e...sp.~ $ 5tO. ths 90° ~I$ll!i.i.l.[..IfOQ.OU 'llrill nQtotho.rOOs..on £l!"OIn dlocl.s 00' import.Obe. VI a h'. S-do:y "t'tl.Q· ~H~.. dl.los:rou n£ie~ as long !l.tosthG is no""t. 00l.s. ttnd vary sald. 750 ~d ·di"tid·es the space between "h.. ill"O im..itl.ieo.oleJ.o"ll'ing-~v¢r~@ ot one p..gl().:Ces a doc l'itao 'to. doolin.nce troll'l IIQU to 119(}il 'iuh.i $ lll\gl.. t:h(l next: a.stock 'crut ri5~ ~ Po.o 'lllLOst MU~O !!I. "60.gle on which. .I.st.r@ -3.'Cl"· toO 1!li.. . at 00 k e a.d.rt. lO!l~ d.e bimo .elc~ or 1llon'l.:t quo.m.se .ssi ble a.hoso two W11!(l'0'S ~t .11 o. but this mnglo is only usa-a. 1> t· lJ.v:l.ntiQ. pOints W1.~ Illl"le . it 'wi.~ures.s fol"m b()tw·Gon.6 mld Ro.3 pe'!: duy .rkedl"l3 x lli .ivido it 'by 3 W.-. Qr 'l'ililtc~ wbi.. l'Klmt:.n. hat:bom . "!HCO k orm.ngl@ O'n dv. th0o.u:p I.r d:lY" we ok long it .t\v.anth.'r'li:ots t Hke 19'2!3.S ml.es wa shclolt the $ti"(ln~ or '01:l111. th.Cl.l only '\.t'!I.o i:.i) :in. l:l Wl· put Q'Il t:ho 4~/) .l. .a t.1"0 foU1nd.' 2.~.. .:.e st:ronr:est PCl:sosbb posit i e. th.SO.~ 0 Q.~hof' 45° bscnuse :it i. 01" 10\'/ 'P0in.d.t.e£P~.gro. iTO.d )~90"'t d.ny~.~er tops)than after e.first.Q·sition lOIs lOh(5 as it stays a..4h .. whi.(} g. 'the ''8 lMPORl'A'tli'T' tha...i::l.l.le 01' n-en supp·o-M::point or th~ nc¢IQrding to.l. ('j::l'~' ro.dor~ of po~it:iQ1rI FOURTH th{! .gl-o ot 4.r. but 'fl'hen :!d:: TH:rJl:D I MP'QR'l' AN '1' ANGLE" 4· :x: ·.of tb.6 t.nuQ$t.s onQ-bl:illf Oof tho n.0'iVl"l Md th..O'rn.1!IIt:.._ then d.~et' "D.o mo.oe'nCOO$.am.....e .i:.d ond.Q.tour "itfi.bow it.glo~ vOI!uable in dot'('r:rmining th.ckh.1"130 e. 0.ch measures 86~. which.f..lo~ W~ n:l"e gottine.l:'!.ys nbo'V"G tho i!a.d1ng tho 6puoo wl:t. rulo".cle.r "l'iWnth~ ~Oi"G' ru-e "VG.nd 160.x 1 m."I.. P(J).:ilYI 'wce'~ ion~ 'but when it r'@'V~l"'" i:t ind.rhich . 2~9.c.. Irlc:.ll-yi:ng c.R~. It ·mC}l').n~l<.i then ~ t:ron.l:t the l::'A t (J o:r 2i points..e.__.po:rtf(n.t' thoimporl:::Pnt c. o:r4 j.As . 'up 'or dQWll 16 points Or moro po:!" weelc Or pe.J .points 'per day I 4 pointsp<'ll' wool.(.g. tor .'b ~ .oo k .the hnl:C. The anglo 00 113 dmply of 156 another (W:I.iston-co up froJJ'i. proloni!:od o.?-dGS thQ .:J(I.j< wh~ stocks ru-o movin!!. h..lf.50 ortha t.a'int oxrunple: The <!SO mlgle. aho'V'e it ~ which 'lltOV.rytew stoOl ks th. l"l.

ll'rtd stock {Ill. tho ml.::h.e.bottonl ho:td:J and 1.': 5.~""'· QtI.hg 5'~ock should ro.cM5 tbi.r:md IQ'dvnncoa t\v.t~ ov~r Effid 'One.a.1"~:r~t ~gh bo~r' t.rl..' i.ros 26~.p on.ly usinr.r th(lt you 'Would use tho otho.the! 45° unglQ utitil th.:ning (l.1 no~~ lh!'oko1'l.~ W. :tllM 'llli(i)·a:gy.r. gl)1ln"ar.h~:I.UU l"!.y.o. the of' sido 2: :l': 1 of Oll.'Qu :tlI'.l.IUCt.dbr~:mk5 under tho.4·0. :. tiil.st-o draw Oing.wPQint.!?" startsmo"Vinil.~ I :it .:..h.sto¢1~r'a." thOiU t.l l"ul(i ..r~Eld ~1:Fo fS!j': nn FIRST }J!lGLE ON' BEAR SIDEOY ~RE :SQUjJtE:~ 2 :x 1 Th~. thin.te of OIl@ hillf poiutpcr .. ~flJ.1:50 Ol\!l. 45'0 gle.x:nm.n. '1'lhon.a.0 l"clly .l fl"o!ll tho cottom.:lno.n OUO \1O.st Qcokag.(I 'Oth!Jl' .ide of thQ S.:G d_ocH.oy~S at the ::r.po"(a.y doWll'i.pla mt!.qu~Q .LUlt.ks undol' the 4500 nnglo-.' OiC 'bQ~ish.:r 0):" othe:t')'fiiicz tlll. YO'iIA dO' i.o$ onth. then st d.o .!lLin 'bI'Qo. 131..r thI'1ll e woeks Or 1IlID}"O~. make's tOI.tl t:hODng.ll. tinllles Ai'ti!l:l' . :N0..1G].a\c and COR"" do'WIJ.g..o.Q' '. .r 10(. day" Wllak Or month.o. thE! SqulU"e i.o .(ID.:.first the.o.: . fo.k under th~ 4. ~his is the tirst SUPPQ:.gl~1l a:b~:rvo.. :point up" whir.o wooko OT 1ifIoro you '{muld s'bt'li't to -put '-&:'ho anglos om # from tho 10'l'fpoint 01' tho d.fI. start :tug from oithlQr 'tem. m. "WEE1<:LY C3iAJ1~.o:ch anel' it broo.!)°El..le 'o@low tho e.t'b om o.S i'ol' l:rtQl"o·tho.lo!.D..\l"t ~ 1.liJcl.i-::: th{ltl y\J\l -:'(1.oc.11 put on '\..letS la. "wo will s t.Q 10WIO:I.h~ .:o.J '(l.l'r3 2 poin.g.le.~.glQwhich t.g.. (l. .

)a~ti.di.::.i. p~tt0rl'lr:Ql'" drf). p.P'.oae o. J or 4poi:nts par d~y. th~ :1l.ys~ tnt's e "\I.5°_ !J'i~GL1I!:F:ll.s ill tho noxt wonk- O~R1lNGLElS: waJ!KEST f'OSITIOH-.tte·:r tho .q.::r lINGLHi 8 ~ 1: Then a. .@ of :2 j.. Tho stoc~ .. 1~.fEl..'s Q r" m. '1"hore:!'ol'othb mg.onthly chort 1'01" a long po:riod '01' YOlttl'S.t you will pub qn yo'\J::~ ch!l-l't is thl(l nngl..s.g on thio:. 1 engJo is ct"okm.fitb 'VCI"luo a..rt to a.'ro.oVin. 5°. dec li.gle'.op.t o ott!CIl1:l'. in 0. 'Burt whort this Ilmgl.o. This· ~s Q. .ble • .lly TIl. .a. Or 2: pOint$ PQ'T d.e.~ '1'hi. x 1. 'Ill:t. is i.".w -th.t up !'rCltlll.:).i!r..he.1h~ 45° a:ngle.tl.a.m i~ will rost en it {'ur u.e·e.g10ond m..:.gi'l"V:ar.~l~ which.artS'1 .d sta:r.!t".g-ot . of timo".OVC1..ngl..gGtting t book: into 0.!llJ:oo f.d.ek or mon1:.0 \l!leOl to o.o. ~.w is thanngl~ of 4.n. SOr. l't i.: at "the 'ro-to. st:ron~ !.:in.o.o next '4..()~ the. xl ' SUP!.bb len.kin~ hi{l. lM.!'eoe O:t" thr e €I 1!f'lOon·t:ihs. 'than yo u st..ppo.e.• .'·~tle~ Ii..M.01nt 1'1""'" ony ~ week w or month.ry strong:.ct 'thQ ro:t.StlS n sto'c1li: '1. frOom nny 'b(1ttom HOW TO DRAW .gthof tilne~ say~ thr e ~ d. 4.a. whi.l' day II 'is the rulglo 0:£ 4 x 1"..l'i. ANGLESFROUTOPS ON D'A. whioh i5 the.kly en.y~ 'WeQl. eonvl::Tho od iC). s.s·t pos·ition.ls:o 0.:..HJort impo~ta.he 1o'l'e.. its long Q6 the stack is 'below 'this rm.h.d u bi. holdip.Ulnl bot:t '0m M..gl.rt~u. n.~ct.S~ hioh indio s:tes e.. e x: l~ Which JJlQVO:.' am.w·in.rt.\ Tory impor'too.ee:k 'ol"month~.lt im".:. .:ihol.1 from. YCJ.N'~ . ongl~s o.ill stnrtdoc C lir.: Th. w moasuring lS~ at .dvise using it.c:y" l"li(H~.l"ins.}.r. kb@pmg: it.O vi. :position when i~ d(il'clinas o.0. l'cm~ peri..t an ttll of' th.e Qf.leoJ: 450• is ip the 1'feuKr.ar ~id!Q of 'the Sql!:oorQ.oCiI:l't'}f!.'!l'eq·agQ Q~ 8 p.Q t o'!{I.y w.or ..l.3 ml.ANGLE 101" :5 xl: ill l"{]lk in. "K.ill1ba r tho next si:'tonG an.ri~d it t~ 'lt111 uo.a n.1.alOgo at t1rnflf> on "wQo.g dec Uno t it 'trUl Oo:rt era :ro. It cem ..nd.l"to.O}d' 'l'O)P: -The :fir8t angle you dt'6. .r(i. the.b brolGI!I.dt·Q use.a.g.:: or month .llgleot .l.' 'l:.:r ~ weo k 'Ql'month .k.to:clc ho.king previ. 1 It . will. put.fpoint per do.EfW anglGS1 dO'Ml.of ljS.·oc'k.ll :till'tIO'~ :nnd. .lt'{~ lffE:RKt'l OR lIDNTIILl GHAll'I'S .l::s :from:.rtel':' ~ gt...5° '01.gle" it .o'ck has 'Omde t.. trod.ot $.. OOl.$t OD. t:h 1.g c. :mtllnthly ehi.!'.QH:TP.ou.ld Ill.y impo. top undls'r t.:point POl" d~y~ we-a.CI ~ d. onglQ} crQ:sdn.nd ntso bytQstil1g it' 000.4.e of onQ-thil"dpfiini: -pCilr d.N'EX'J.t il. {J'f much vo.:! you trill soon "bo.r\.e .O t: oo.Q~hCll.o usc on. tha.n..:.n.r0ntly o. NID. thpu you lnI. ~ .os.t\(lrbottOlM.G.ne of one..kJ or WlQn. o. from.gan. heu liI1lir k.: 1 >. .a.gl. find d-ecliPed for .l:ld .on'th thoroforo.ist dra. r-~llyfrOOl . up on.t)intiS Ee'l" d'oO. dnH:y oho.lIlppo'l"t anglO'. monthly or ""HlOoldy cn[U"t: n:f:t.m. Q:r ll).y.portOOlt OOl.s.6kly chfi..od.!l..~.fien a.1uc 'en 0.'1d inQ!:l:lluro.l. :rOil ~ho\J. (Ol.~ (~e'@ lP~ge 10') s«. 'l'hisu.:il.g 10 S oV'~r.!ce. Aft. ().iblo.!1QYQilJ .s ks bottom.-eilrl o.n.iO'Xt iln.IS up at tho rarte of l!4---poi:nt "p.n~1'0s .th" 1Jy" dll'"!:l""I"'ing''this an tho m.~otiKm.ANGLE. t'nE) .. at.angles that you 'Hill r.a..i"l.l' Not:oox:runple m~"t'kod "~iFor.h is hlporto.r-t undo rl.4 :. tho tOI.'v.s h:o.. b:r e Cl.vllll.s in.!i. In i!n.othor. 1'1:. o. top~ 'IIlhioh mO>f'!:l do'l'l'n f'n~t'~'r than tho ID'I..:nd k:e~"psundlill" tho Wl.[!(UY (l. t.i. a'lll!.will rQooivo iJu..n !5~o:~r'Clil' cq.ch m. if<: seld:om. .o.:t p.g .er a :p:rfJlonil:ed dec line ~ .lU>c:mo.t" t.or :m.s compl~'tes time ~ fill 0.support on .rw.i'osition. ): 1" • .

:bull ma.>::t...S"~wbich isi:he .w !l.'btGl'"l1!. I i:=+=I·~'_H~I~: cJ=' ~.S in a :.5 o.~lelil a.[).j.J:a x 1.t the stQ'cli:..kes~ ...l..' m.e:r the a'tl.onth" Or fallintbo. wrR0l:1iIE:STPOSI"t lOll: ~ o. M~·-!ISt..s.~.''''r-"l . 'M. .itol'the 415Q frO~ thQ to)? is .n y'O\liU'~ ready -to put on the anglQ. I' 1 I' :1 I.$toc. ". Refer to Ji'o·rm. f.It:\.. ..'poi. 'Kh:ic. "be.o:n~.OC.nc point per di\y~ week OJ.rthe.o or 45° utter a prOlO:ri§ed.od and [\1"Cer th."'~.(l.. later' und.." :r 6.le ...tte!:.~ it iCin ana i. *. . It i.d.~\D 11) 2 .ld. sia:ol1g:~'r .P~ The first tmglQ ~.bh:m '«'han i"t is dl'opping dC)1l1'n' ~t tho :rnto of 4.l..r it. uw .'0ch@g!:J' into .k :in.3 .IAJ __LJ 1 : 11_ i I ~ I'!-' n:P"t/ ~! I p:::.di- .ge you drCi.S.own W.-nverOi.1 1" 1 ~. decline..2 X 1 1bU'b thh Q..a. O1!'l.cro:].loW or' und.arket ~ in tl.e.u\~.glG .er the rules. =ill ~.-. nO'i{ . o....no.g'l.r CHJJilGDtG TUND:As long as a st(JGl!:i:s de:olinin.1.$ in..rko-t " t. II'~':"""'~ t c_ ~ 'i"''' .n:tn POl. ~.' . for dr.e::l't p()"6j.£Ill.liias and 'crosus the. I.:. tn~y' 'be ~etting re1ady 11.rkottWlQ.na stock re. apart. I:\. when it des dro'P'pin f.. Vrh~.~lo ot '1 x l. a:t es a" lHl.po."" d~'+!L tl'i:lPl t~~ 'bqp ~d..:tN:tl!{5ifJ l' PQsitioin iu ~. M 'will be C1Xpliti'iled.h showstn.ol' ~d'6l"' thQ li!.e of the 45 o.glesa)tfl.ng...l1gL(!ll or moving.. ·-IIW:I_I.ell' the 450angle~ it i. .e.1 i i 1.. the.11yl'(h~n 'it e r es se 5 theei.t'·o..g ·o'.inJ:l gn.. . (:SeG 1la.C pa.ngl.)?osit1o. 1'h~:>t oc k is iu 0.~~ wea...d.n. ' ! ~~ iii .' d....r-'omtho top.rmQ.till 'm a bear tn. it:s .oE! P. I iNi- b.@ 'b'ho 45° 1 JJiGLE l"R0l4 to.c. rr-t. woek 'Or :ll\onth~ .'nthe othal' si.o'Ov..(llJds J' 'on.y..d·-I. 1" . how fa.Q ._ I ~ . ¥'ery lI(eak posit:i.p.l!1 1 -- I\ I ...-I-+".

oed. 't'h~ t!ttQ' . x 1.o'\"oM.~r I:ho~.: ! ' I I if)i I1 II .n.above tM~ !In.Wt bo'btOiJ!!. in . which. k 1:m:jc.a:·th~ finglo Of 45'"' an.'O ~..l':i _ . 'lml"ll'GS dq..hanoxt:stl'ongo.£.ml-y po :i:n:t:li it i OS dO'Wil from the t.d ro.l..s fJtrotttth.id(l)f' a.S t t·hJl'O@ .~:n. I I'" L I. or ~oo monthB. thut yov. or bot'toms. las·t movlfl" but it ..:.. Q.oll.o:. . ind:Le o:t·o. thQ i'o:.~ :) X SlRONG I.. OllIS.t.or pr'o--.e. " of anglo G'l1I..tos tl1.k mQnth~ O!' This' o:ngl(.:tUld its PQsition on !l.I."'ihl'l I K~ II I F'(~' II __ I_II ! ~ ..I I ...: Qlds .y~ lou. rat~ Qf' 1/2-PQ'i.p it-mil the :Dotto~ o.:tl.iJ..:( 1..g and rO!i)'o·t to .whon itor'OS50lj: th.:nd. ~t. l't.~lo 'Of 2.lis iinpcr):'to. ! I I .r~s at i. 1 I: ['>::~ .nt 1'ti>l' month ~ 'i'(aako:r day.n~lQ'. ~e Thi~ is m. mQ'lfinl::.'(l-ll:!l(l.p 1 liNGLE': The thi.g'JI.l. xl.OaIT'ION! ---~. d 1 tho ~...io:!i d)ilLy.: I _l to tho IU'llgl..1:i.:5 Oit.eQOm:i.!.I .1. it will lnOl!)t se ll.sitio.~ point O'Vl:! ~Y'thl" (.¢Q . dovln ana pOli.prut~ini .~Qt O:t.rd point por d.to use ·a{'t. ·o·t' on·ow(l·o..m o.F~'rm -If~ !TII..r:\tit hu.f!. m.. of 'l/4~l?oit!<t pe.le of 2.QVO...j>' t.Woo ~."..xt iiS.O'tl. bQttom~ until you tho'1"cughly 1ilndor!:~imu hov[ 'li::odo thomnnd kno\!! that youo. I .:st h po.(1:. ~ 1 on_.n.ve.on$. down. s:tro:tq. i.chos'OIM'l5l@S on..~.. Orosd.1. doc li:a.l.[i).o bottom of th. 'i'.. up:ho.ttQll~ 1~ tho.iG. ion i!l. b in \:."uni t or T1i!1.] . Mt.$ rro)l~ the.o () f 2 ~ 1.gl.f. it is in a. tldo m c.ho'l'i' m.e:rmin.oVin.. w.oh is .oc.:ngl.$ '!i'own «t.d u. '1141 ' """ "J r II r r rrr-. t:olltporo:ry "hO.s impo'l'tQl1:~ to conddar.Iiffl'lJ.' -1 . th tci:.n'b . I I ' I I I I II r.o f. i~ :rQo.troj!'\ th.od !.l n.r di(lLy-~.. to dt.f)nin i:'romt:he top.6 up ·..ii.ottin~~h(J'1i!l '~hh 90m:!?1~t~.e.~ pOlli"i:. "'.:"!r. II I Ilf' lI_) F-o: __ l. the lllllllbor of points it has lllo.·tl.. Prnr. y(l~u inU$i: al:'i'l'a1s e.:t tho rnto month.o'Ver 2: pc intB nttho nn. wook llo..6l" is position whQn 1:1.oit. I ~.oot e x l~ wl1.~::r .I . ~op::: and. cV'ory stron.g tho ap.Gn" oQmmg.llrtgl@ Qt·4.lt..i1)~.g-e. . I . rimo from top::.Q·o..d.. 8: .rO ~.nt... to USQ Cit of 3 ~ 1. tho Jl.Fi711~H!N~.d.-p:~f= r-tII ! IJP' . or l!Z-po:Lnt po).0 t 10 tLst ~il»portan(H) T it. :1. bottom.

$llge in .:m: OTHBR: iId'llOn thQ:r~ or inontihs Wh1.he DO'UBI.o(:. 'iLi J.:5ovore.rom.::.l.:... trend: ta~" jfllMe !iLIl. ~ t .l'G.fll mgle.in~ tq tlloo p.$."\i::.t oottO'illS como t. _ I ~ I-! I ·~i .NG EJ. of the> bot-t{)lTI!.f"\W' II Iii I I!· Ill? lV·1 I A.€W. Form 1~6 t.t.)J.nry ne tu"t.un~ the Elllgl'[ilo t2 x 1 J1 whi:c.u:ttht..pbrt£!.N.__ _ lrOl"S. 'l.y8 drm'l g.Qrmiuin.. of: :2.tt mas '.e 'i.nd.':"". m. l'rO'!ii'J.~ bottom.gl.econ.GA-12.-~ anglo.gl~ from.l'l ~idfl.OPI d0C. 45° a.llilll.. ill -I L Iii1/ j .. ~or e:.og.h.c 1 on iihe 'r'i~ht h:M. .o·a ~j lBii nnd the Ul.<l!ug. 1 0 .oGitiono£'tnc ___ f)tudy thG rulo. htut: fr·om o.t:Ioil :tl'orn thC):.. 1/ 1'-1 ..l dfiY'5.1 -11/. Ol1~h1i ~ J for dot.ct 'lb-o dt"OI. D.~. ohart ll1'ull"keo. thOSe.:los tho ...oul. :N"ot6 on. t.trend.l.d.l.ch Do ~:r~ neo. s t e>c..gl. .angle.me' Wf).1j~d '"bo.p..l<.". :..Ul:t. l.s '\m.k 1[1·~kos 1. be a point to we. t.. ·M'J. on th.0..d s. the.. [/ .i:n1O ·Zp<oil:l(ts pel' day"..0 ps m:Jod ·'bo.anghs er-e s..h\:lT n ssttn Apply th. botttom U 5E Cl:'-OSSIllS tho onglo 01' .. at 4-80.ltthe...~ah price 1(IV".'ie: Fro-m th~ t:brsi ·bottom.VInfrom 0.oss. ANGU~S: .) ong:les troll'.is.As1l~()!iou51y 4!30 tlngl0 is "ho most im. tn. bottom.. the seclond bottom crOS:$a.d tripl~topiS- hhc to]psor bottoms.os: ee 'CillO. ::.!!.r~ the -45° OOl.'rhon bh..N'GLES CROSSJ. ::.id.. J. Then~ 0 tl'om. Qil'Q.~ ~. .. 1-H-++H-t-.: CI.I I .from tho botto:to.po'rtant onil sh.hQ fo'l:' d.ie.d~::r th\l!se Ol1~les.. week i:rr..i mgle of' 2 :x 1 i'.+lClii.o::plo.i ni%. 'el~ao'bl& ilib 'bho is 0010 1~'V(:'1~ RODlomb er ~a~Wo.... tf 101.!).n. 1/ 1 I/rI~. the fil'st· bot .'ill'l.g: t.O'Mrle..s or l:i:n~s run from ili'l!J._..siloh o't. o • -tE=u.)..11 il!i]?Ql't ~t tQI.e' .~li1l nnd. i· 1J.:'!.e lelft hMld Q1. ana.!i: cuiv'O.n~h ~ You.li. ::rule> to n".OO'I.'lfl.P~J :i!l douo.5o rmgle' f::rom in.r side frol'll the first the stock 'b:re..he oe!'l.O'"rn..oh. l/'l··'··~·1".e of the 450 . md thflt whet'!. i:\l)iiiolu:toly ~oc\i.r!l:te. ~ I 1 1/ I .fhren.s big-nor bottolll.oQd 0.(}'l't.. l/ I I r 'I 1. This would.g..o.""~I ~ !Z:.. ob und or:oss·. ch.a PJ".h gs.cond bottom .helc:l it will.otible 'bop~ an.'TOlllS _ _ _ }. III 2rJ. OR.n (..ese (lo a. .d it goe.l!:Q'. x 1 an.no.~I I hn v~ drm'll1ln ·'-15 EingjJ_e. Ih!lvl) plo.1.in to t..he.s . :-1 P A!UU..:5 0 (lO.:o.. I -. It i~.w (h~~ em.lo bo'tt.5. w~eks drilW @.ops and. bet:tom t .2.thon. I 17' r> I I V I r I I." bu.()S th(l4..IJ.~tho Parallol . X 1 (In th<Gbenr .I:o!.. Th>Olt yo.tt Q~n~ .D'I'17..glo .o.s Note 'th. .'\onth.r the:s tIl.rtan:tt.~ vto dl" "-w a 4.17o.10 yOU th..! tho di. bottoms. lows·r. Wh0ra.s:Ld0trom the 1'il"~t botton'. win tl.thon if the sf.'k.~ ruI"L@ so.ote th.lo of 2 x '1.t I ha'!l'~ d..u e nn oQt. Ji. I -I 111 'i-++H-+++-~ ll~ I.-!·~.a .h of 2 x 1 1'rol!llthe third.ha..O!.e. II i/ 1/ 1 I ~. drc..cord..iu@d.lCQ lQ'IJ'"O 1.l1t 11:.[!. to 'b1Z! . bean ilnpol"ta:ntpol:rrt ·'for a ¢..g. Mio M. 5too'k on.i .e of 2. sa. fol" ohL'Ilitg0 in trQnd..

t h~ on th~ O'J. da. ·ths 11n . f'rlo. brolcen ~ it is in the wIHI.\. 'Time e:ro bo.t ll.:\!:e ElJl.. 20 ~ ·th~ much lQwor priofl.dvanca a!l. atooka.in tr1.'kest.' 01' a.is .mcnring.s on how M..5tr'U. (lX-aot sp.~t stl"ong.J you. 46.ottOtll.'l. onch eaao . but tni.0 :and lbit.l't.eiS dre.e o. k.it r..e i~ l"el.l... ::tOu in..o(.oas not di.0.'ch 20? ltn..Ylthd> 111<0001..Ct loW' poin.:ily. stoe1£: !lloJoo(l 0." 0.(l.!I. Q.t..tu a]l~rl..:m .he .rting the 4:5'0 anglo tl'om nO~II!' wh'on ".rliL'il~l m.g un.that "hog.. shoulCl :.imos:m.-chC5 bott. TIn.lle 1.t ll\Q.::: LEE OR ·MOVmG~AVE:R.th 01: :!'l='b Ul}Lt i'on in n p o.N':I.ks vnd.rttmt nnd $.glo from thr} bOll:tO'lu tJilld.e 450 anglo f'l:O!lil ItO~~" 'fhe.B whe.e.o. occur-s in .isi.r-mm.glo.. Cir(d 1 at 01' ~ vthEmlGhe'llit ee k: br~ !il.otual.:.(fl\.·th'~:lii:O c.rhe .rill this o.ioeo.i'row t.its bottom.t 20~ . othol" oogles.tQ!)~ fnilto ·(ll'O:. u.d indio!I:I.ta.n. o. "thou thofUTlgl¢l'."Jid mo. 20 1veoks.t on'! !n£I.s B.. lnter QU"l. th. tho. 'It i'~ very irnpa'.s.r~ll.t b.'tes: a chtlng~ .d.ANa eino .'t .Qr(l im..o(]l1Q.1? is m. the ttelldturns d'O'lm.2. It will roru.~S \l'nde:r tho 150 alOg.C()!i and mnKe$ 0. it has d eo lin 'e d..e:r " it dec Un ea t ~the bot'!:: ~m.oving iol'P f'r9mthe.:rtQd o'Vac~ ~1rno.ClLL .@~:l:': . m. :i:.tcd.lC h lower P:171. WG~~ly Ol"' monthly c·n.to O~ . str.l> oj: 2 x 1 or 4:x: 1 ju:. .!'}"om the top . In otbl'iJ'"J:' words .da<!Jill o.OYin1J.et.'::$ it:l 0 ~ c ill wiV[Il}.d.e.then .s bulloID'lt:l?~"'.etom..c.oo:nghl from the first bot. .Cil ::> i'o. tho 45.st.r-o. stock J:'·ea.ngl() 'X'~t'l.ml. Thi i$will gi V"0\:. hl~or t0E' •..e fiut All o! th-o Qth.o):.:. '450'~(!. cm. Mg.s.¢USd :Dnd indiell..s th{[l time! pori"od 'bogifl.11~t on onart:t'O» u~nd sho. Imiclwh:otl: br-oken .W'll frOM Ito I! J> €ISpM ie.po.e-n tho ang.o. ltO!~ ~ Y{hlon th.:rt o:nt.rry Il.· .s~an.ol...'hJ. 'tlpfroh'l1l. 1 20 d V. is ofton n. paro. but A this d.hos ..i~ thal!l~ wnich. o ti~lOiper.p on a. Dind .t wil:t:1.fi.l"foSS n..r 1. ':bewo~(n l?ll.1n thtl 45.:'.(.l boo. leI ·'b~tvI"6{ln.IlOU·m.E. at Tfue:n tl.~ u:p f'rQll'Io lno" ~ j "bo.obshows the s\1!Pl)Ol't in tD9 porions ~ but th~:rQ {l...&h~!I w01e11 otton.low.. ... tJ."rOIll which C&.llluing -then decli:n.stlJlrting point bms.do.~ y(lU cali dl"a'lIIi' al.c· it 01"e :o.:y5. but th@ o:ngle$ m.e.d.lhd.otr.Ls m.lQS can bo liJSod... it 'w'ill ina. Th:~S 'Cl :::I.VCI instrt(ot@d !IOU ~b bottom.uko$ loW' o. im..o.om the. tIi. ·m. lSt.uld tl.dmon'th.ile a.GB··-!N:Es t II0 II DRB'rnFROM 1'h(l.raw iDID.o·bQttom.5 borGkon t th..llof t·hG\1l1..'Ilg.ri 11 'be tii'p 20 f'l.r.rt\.0. l?rolon~od 8ll. stOck whO'n it: tr@a:.oef!hQuld w'OQkly .t the 'bottom .~ lino' tho.'(ill 'bQ the angle of ~-5om..d_ ~ Mgl.'1'I0 '~{C dr'.i will c(rnt~nuCi on up 8.angle.O i. 91" 20 m.dvllill(l{l o th~ ~H)o ongle f!"o~ th(') tbst t . 0 Qll. workinl?.in nt lion or.ee.gle3 tl"ct!ntbi5 eXCJ.:. 'l'h.o.t~ m'1.de a:t ne.in . .t ~obween 4. or when t. hOl'i! -the tim..tiQne.l"tOXl:t when thia angl.Q:tl!.'i.ong :suplJort ~~le f.d.I? tho an glo s .n. gto..o 150 OIngb rUllTl.n Ci. 'll.· ospoo l.·ell'.i.:n.t!h.a. th£Lt you from "bQ·tt·om~ mns:t not: use bhe athol" CIn!51os~ angl~ is th.ha.0 an.stook will e.le. bCnl.lon. months £"roliilthe1b.ml. :t'irst tOll ~ tl.lly ~ out {:Ire vs:r::y .gout.st i'm'po rt Ql:I"C Mt::ot" tr.:.li:s the other :support ~gl..se tho. w::tu. the.'t't ·an 'angle of 450 from.x~:plo.:t· ~ .vo·tfient.kstn.bH y-o'Lt .tethllt ~ 'they lillOVOup f'ro:m.Q \bottom.~ 800 chart m. ~ Y. :you.e up ~rel.• ~tt..to fir'!lt Irmdtop..art and.snbt n.0 up.(.as shown on th€ chnrt.Sh. tor ._~ 'It i.IOno..:Lc 0 "!Nner e i<ho stock Illndi.. 'P0B$~'blQ' l?Q~d..:snmo ro.tO'm~.·~l)ro.Sh the stock h -~lling M..l.llP .glo f.ls'o llo G nrl'ied up on impDrts.rtoc k is squnrin.5Q 'W'li.o~k r'ao.po'rtant ~oi:at tor' SUPP(I').l1iICe@~ ante that tbe tO.li"~mc to.i.sf muc·h..om. i'hiswill prov0 the ~c:J:uare..in.ry t:oco.rt~ up ~ you."'om 1.s depend.J:g'l.1fllI..!Ult bet\"I'l3eth will l' I>.ys" :ao woab 0. front uO~~ but tho· 45.roJ.i:nK::. It is 'th¢ l(l. th.ly on thQ daily chnrl:.dll be just !lI$ jmpo. hQ"ii'll 'he~in i.dn.fr o:m.n.}:".ov.o:tb~r· 4.e ..h 2'0 in 2:0. . fl"o'm thi.•.5° a:nill:l~ e'\1\l!.l£i:ncin@.Q .~.form bo!o\.'i.lihen the .i 2.ou'th.o.b()ln o.'{Qo~.~~0mth~. the bott otLl.o~.sto. to' dl.o:rkod FQli"lli14f7 on pngel 14"<' If a at'oo~ m. f' t:ll.lly thc4S(l .J.n Pl"ic!i a. up a"t th-.. b.nd Oiit thop<r:.engle" prc)'ve.ot-tom.0 Il-li.t. top Pnd frem 1 .s d. ~ GEDMS:rR.!i'!.. or its s<tnrhin& poinb.t 'bh:e SOIi!l~ rate.:ct. 5'Uppo'rt.axt. o.·o~.gle:..i:l\:i on 01" wid.l"O oth(ll(' rm.g:.

o~(l.·th ..leurd(le a£'t·Q"J: t.gh~s from. ""/fu. &11 i!TlPQ:rtrult rir1tt.lcp.is the 11n~ Oll.o.0 g·i'!fIJ :.:r~t 4'5°' !mgh fi'O'!!!!. c:'i:um..p'okrl.upport·.r(Juld 1bQ ct.500 up '{Olt l'r'o'1lt ...e·n e. th®MbottolThs. time pe.:>o cth.." U.e au.or wlu. would rQ:Bt on thorn ond 4'><1..rt~.ol.j' theboct.hly· che.Q].{.u..esat ~. :a1b6tt()[fi 1.r(ll1.ho.ro tht'! !iitoo·lo.nd Qth~r' M. h8t~ {lIlo. with is :FriQe ~from.!ln~l~s 'Qrm..! in.:.pol.ho~e whieh sh·ow lIl\llch.h.. .l's t 1.proiliththe bvolfl whore.0~t 911.ot l~c. 'rh.. o "b~ cl!l. espec~ial1y t.GH:n.iao t ot'.ly churh.hel" W(1Y !1!XOEillt b~" tFIei1m.uld c ~:rl"y 45-°o.e'G! ·c. it is Y(lry important . tre~d~ 45'1.d~ ~d. You c.I(lJ~Q thi$ $UPpOl"tpoin.~ £Ul.! non ba. third low~r tOlls.). kee l!?i.Lllr..l"vin~~nve.cet:r.:. t.to-"ps e.ong ~...ch tims.s of ."l. mont.ck Deginl'li::o f.ol("ie.d th.om~ but on. v'~~r.d.~iL\" !llld will locate suplP(J'rt. tha w~l(3..ri..klY'an·d.ugl. l:f @V~t' oyer leo Y.$ brok:~n.~oCtd t:.hoy v..fIor 0. .:n. uft.gJ~.~..~6 they wi 11 te 11 you when 'T.." pri..1G~~h:ould. l..}\llGLB: FRO.r~il'1 w'hon it re'Mho:l tho point of tho o~trem0 high p:rice.l. .!' $econ. ":Ol! . it h. blj c!l. ttl) 'mon.n.hOtiJ.ould n.~ t5..~u:aring (l'IJt.~:oulTomthe first.ird hi~he:r oO"l. vory1mpol"tan.t.ng \lpth G €lngl~'s fron'.t in fl.at" Ml!.gle 'IlIIo"Ving upf:tcl<"~\"Ou ro aohr.~ SClco'i:'td.Uy tbosewhere. 'lou shQuld nlso stla::ri.:r:r:.o..T'll'ioQ donG when tnt) sto.f 41.oms:~ @specd..1011 f':rOiIJl.p~FJ:G: ·1ti-e"~e~n.es~ wl5:1es are them.u.!..o:st i1!J."t®'b.lri:y crl.o!d ele:p-smi.<)i:o.h.t. . ~.. p.:. 450 (!il"J.t.e.g.tCi~"..'E:'l.. tne "OO'l~leo.:lJ \]P :£rom .'.:M ~~Oll ''1'0 'I'D? liND BOTTOM~ sho.

.A 45" ongl€l Gtt:.eol &Qclined l'm. 192. 1924.-' 1-1. 450 cm.. '1011 C!!.. 1924 c.from oith.._.". .to. '.1:.i·'S'tt!lo'.. tlifid bottoms" th..._ - j' ._.._.-t.1.restod As We haVe f'r'~Yv·io\lsly mOV!!lS point llEl'I' r~o'!t.unt of t.. *8 ~ e::<plo.r cY'cl. i .o:b~ rm:Ui out.tCl of cn0 on....:..por.d.!.~..@o c.tthe tim. . I ..h(li~pa:l"tll.. Thi~m..nm:pLe on.nce of: 'thiz top nnd tl.!. ~x..~ ~ .rtod up t\@.!.rt@d from. j) we would s tart: a 450.. wQoE)..· :hll:!?Ortu.. from nn.1)oint.0.' anglD an.th.I1)S 1tOllruld. ! .4 wOlJ._. 1924 St'll)e L 1IlEl.::lsoQ a.oot5.. I' 1 _1-1_.1.op at 109 a.:ct.ll i!b.t aSi-in J1IlPoO.A '150 angl. 1/ I 1ct:1 I: VI' I IVI I :_ (..I ..Slo 'moTes \l!. ..rtin.t 64 in 14~~.l .).-.p tlt th~ .5Q Oilghl ii!lc)'\..o 0 ru:1. III J \'lll..!:a. als{) be .in Qu'k. 'PbEl ..ro.l~ be 'the end of (l 20-)"1.i.l'~ L " .-1'-I-I~ 1.:ndthon sto.ip.l. .nMo. !. otner angle. _ ..n is il'lt1Pc<·l"'b~t.o.-I_·~I:.o nOll o.th und do'lMll e.-f..Wid ~ofu....:r..".-I~ j.t 84 .om In4...z.!. of t:l.I -I. OOld S._. . .in. til(il.~ eom1l"ifl." I' IA I'\. . 20-'ye..:.'m1pCI'1'.UOII in May~..:1_ _ _.. '15:._ 1'. call 'be ~tCr.:S".kly chart . Not". a ~f-yG·~re.- I 'tn·.g :n~m:bQ'~ a of yeo.t 'tho.. thoo ~'~!l.rl._.glo b~ginning 0.ontinuod.-:::-.. il-·' F"T"'~"'""i""'-'-' t i. May"." i __ _ . UI_':Ir-'_ r i...od.i.~ th~ bst low fit 9'~~" l~n.=.th)'y o.tont top (In 0.~ le ~f 84 months fr. . 1.t.y' l':n...~_.1l! run'(dn:~ up from lIort i.wtb._~:II==I~ ~iI. V_L:-" i II 1 J J... lSSlwould.ar oy~lo :running o'ut hero. s~ Si:c!lll:mlil. I '1' ." ~ . . '.= --fL . . r ~ ..o.. ncoo.s. !:2..lil'_'_ _ L_ -I-!-'~" l.p".. :Illl5l0.. _. fr'om ..r~mQ low in 1904~ :MrJ. .. ~ ~~I-b'\ f1s .quo.s t !n :May~ 1924 $teo. 6 u. _ 1.. if Vf(l nesd them.Chart i 1~1 r Tf TlTl'TfT'Tf" . .:t theti'me bottom 'i'(ns mOOe' at sa in Februllry 1:915.1'-' -'1'.rn from !my' important bottom..l. d.. IE 1.Aa 1 9"".I-.e. I ':1" I-_--_.I.. fIl!.1'int up 19':S1.ri'i1l[$of :Pdoo JlnglQa with 'limo ... ..-[ If-I- -l--I -I-r--:": .showi"ng the. d'CiM'i.own watil .. orne '4. A{'t"(i!:i..-:-'.tr6010h.-~-I-~' • _.h... ~.I_ ~ i'-..el'nd. .J! .I~e rf:J."_ -. " '" 1 _ .l"'£l'bO~lH)n l.~ •.!li[i0..il.l.(')nt time o._I_r'1 _.i. __.~.1_'.i:. down. l'IOI~ o. _ ~.j I 'I 1 '1-1-1---1I-i-i-' .t tM :... -_.iIl. . .ll· t'O)? Oil" bottom.p O.t.+ l.'iil 45°' t'<tt.':_II ! 1"\ _..t.t.1--' '_ 'I..o ~y :.. ·H LL.-. _'..'lM of thu end of thG' j'ronI "0 il'l .permOl'!._.h..L5 ongl.t'I..~n o.P rq~lJ./.n Juno. On.t.-:.Q'I'l.d.y~ 1924 e r os sed I!l. mad'6 t..n1lloS'd dmor..st Ci.rti:lnt to'pa.t.[So.-1- I 1 .f-r- !I-V'" ~I~ ~ .. ~ -:- ~~'I- ...- : f'.: cyclo or 12:0 mon. mflD.1..should b~ ·c. For examp'b :U.~~o W'lg..r(l.tad \l..1" 195-'1. J\mQ" 20-yeo.d.

t. up from th()._ Ch·.j.aT 11!llonth.:'I.ry Ttl.i.on ~rl.to o.I.l.s) Uko 1951 "IiI.k ¢.ly U. to 'WOoI'l:c d own. £62 'tIl. 1.i~ it had dlro'ppod ~Qr tho 4SP ongJl.iil'lPt !i. o.l:l t Har.:GiI~t.e in.oms.e4So 1jV'.o... l[QrQ WO look c.f ".ou'ld hOi'\'l~ .5. .1.J.~.$ on thQ 4. 'l'bis h.Lvm up trOtll ·l...! 11~! IDOido i.e~uivnlent O:f.he r i llu::rtr ::t.. t bra ~1kst.ij.t :52.st. w:l.<) l 'Oreke this e on g la.ost ::.d under enco LevQ..o..s drnm until it roc~chos 40 .9t (h.Ol' ind ic o. '\\'jh.hOr-"1-5°Ullg d 1 0 dOll'in fr Oill tho.01'0 it h~:ti.. wont r i fi. from batt. :tnct. 'b.n Mtlt'C!h. uht!) ~tQe k r-o~cho s top Md s:'lifU'I"'1.:nd ·o.s1.-.i 0 in 'i'!:. n.b(l' or t~vo po i:n t s po r month npi!.O\i'm.:.0. \luti 1 tho {>to (.lPPon 'wh.. thol"ofOo z-o thiO Cl.l{]s :s'opo:!'.ottomond tho p. '[ou co {t No't. i tll"o r. a:ttho shm~'3 th.. S.e.nd nJ:tc~· '1. .:from tho ibotto'm..·3.nt ene po 'l. 1":han 'U..t :tn.hl!l' rnt(...'OMg10~.QW on thi1} QhQ.:t tho]' t".~t.h.covor this . tn@l'l! :rc.1:. . '1.!lin in thQ 1'u.t:o tho as the stock is dQ1'/'l'l: polnt .s ~u!ttling dO'i\Q.O 1'1" om 11l~ ~ it Wo.mm from 't:h.'1.1 ~d"!J'W1C. 'out of T:Um.t th.. t.dol' 't. thil:~tho i>toc.oiber ~ 1907' G'r'o's. tho chart tho.i:i~g up i'r'Qm. so 'Wido ~plIJ.)o of s..ho.o.. Yory . i'indi t..\!{ ot Jc:.d 1932. $2:t.kest posit.[itt J(J. $t {H" 1 .lly. 'tho O.e O(rl"t.:Angle. vorY'ff13nk poa:i:tion.ngllll:!5 moving up !'lro!jn bo~ttQll1."l1 t:r'O(1'Il 1 .lliad to P'a'hru.i'emo lo\w po in.Xibrel!1o fluctun.i"ii:I. . 1925". l:I. A 460 lU1!.e 'is o:rwt.ht on d..lIlpport pO'int...o thct.OOthos I1y :. ~ In.n~JLOi.o. Thh would! ind io r:. bof'Qro i:t l"o..QID. s'h~rp.t. ~X .cr!. i 1.d.t. bottom net 52.tho i5° c.o s'Pl'aoAin~ of tho nngl'o~ . . 2.. . very wock position 'by drop'ping \ltt .gt'h.o.a.i'Oll that n . s G"VO r~' .in.do.ni¢~ Sto.tion e t tho b fl.::.CI ~ q u. it Cilln Q(lclino t'o.$t.stoc ke en get in until it" ~n r!J.i.eint "l'theI"o it e en doclin. ond 0. 23 LtLi:.. th.. V. mo"1tw.r tho 4:5°' . Th.Qi 'bhnt th~ ). iq: 90 point. 1 2 '("• ~ 'l::.nt I h ~VO _dr Ct'l'm OO1ot.o O!.o on the d01'ms i'Ola or tho b 0.ow lev~h.dGopon croak.thai. cJ n-t 10.l."".n!t Upff.t s"brtl. .s d.nt$' i~ 16..e T~ .c.s.nucryJO 1927 e r osaed nt 156 in oc t 0 b Gt' ~ 1950.e from t...C. ~ l'bch 'Pt'OV{.gott in f5 undor it at . ti!!1LO it 'Ol"olco un..ry" Hl51 ~.adv~cH~d a:n .!" you.o b ott..:to Ci.od to 2ea~jO \1ih1cn sno'Ws t.glo ]rul'!v. ''!ill rin.tcon ho.c'hood tho4-50~n.loG·gd two tuonths holow this.rt i r1.V<l hnppe~ncd in.tom~ 'Th.de!!' tho 450 engle.b i1 t'llcoi. 1 m.t iOmL .ho CJLng0 o.o 'bhO' ~Q :an.Ol"@ it 'rQ.Mel who.t up ..o·so e."ld tho :.:ltnndwill hnp:peu {l.gdo\\"'rufrom...n~leb0i'oY"o it stc. I have sho'\m 6n.. :0:.ocl docUnod to 21.d( oc line.itu:r'e.:rtor huving br'OK(m strong .O""'Il... 81.Olfi i nl~. from 62.h.~ 1929 and 8t.tof 4:30 onglQo..1(l.. (.1Cine in g 'Up of' _jlrico ond Tim.. s.nos ho.2...and tho:t· th.1fto 2!1lpoint~ h n str'ong a.lonti'll"~o.:o t ec would! huva to doelin(') 90 'pbi'l'I':Cs to strU::o bhe 45° ~n. I\:~ 02 o.. 1o.Those Qrq..ged.1'\1..d n.m.z:.t P"l' n~O'CI.s' 'UiP ..:.H.'d Oll.()l' 0.:! cnc ing 0 f Pr io 0 wit. undor. tlw d istllw.nf. 1'hts ill iIlPl'kQ.on tho 450 on~le f)?om.sts .h'f!jrnon'ii:h.ng d.uppon'od in IOocombe:r" 19::S1" whon Stoelbl"oKe un... dor..t tho stock !.e.n. tho pa. j.h.'Up'port point.l'·on.lt.. enitJe and! f'iil-ilffig 'ho 'cross it" it in&i~~ted.:l:bock br'oak~ u:nda. it' :ilt 'i'. lllt~p1JJtting it into 0.I1iO'.. o.0 ro:':lglocoming'.i k C Quld . J1. h ui~own.c:·lin Q 16 po int s .341 in Dccember~ Hl'30~ ''110..' S.tock fnOVOa up high or C~..~t ind:icntad.O. This shows "bhut whO'll U :stiDckgot..I.own t 01.vowidont:d!.t!''. be~r' maric .n. 100l..C'.o.1. fromthc top.x1.n..d.1'0n g45 m<mth~ tr'0>1ifI t r..1l:ed :at Z52 in 8ept(lmber.(i)u Bto~ 1 lOnnie . pl" ic 0 of5 9~ Yo:u . . t'h~ 'bottom..e 4:5° m~l!('l mo .'o'{ill r.glo movin~ lltp i':rom.ngld'=.nglo CQ.bmoyi.1oth.tJru1U(J.emporo.le of ~5° movmg ul? from I~(lli froID.avn10 :r nt 0. Tho 45.trmd tor ~ pro'bon.lomo'Vinll)dO':!tn. tro!l\O 'p.ry 1927 .tha:t th... at 21-1 'f'.0.. _s T~EL~ Tal:::~ th.rmcglos'b·oing.i.5th month.tl"iki.cNm...nglo or 2 x 1 i'1'om b'nis bottom ot. dcrr importilll. the bottom u. dO"iffii'rcla thQ b01t:.ODfS Po. At tho 3?o'int "\nrhQro tho ..Q'tlS Cind Qle¢l'3.h Timo: The ro"J.t onglos moving d. U notio t'h.hQ' bo.. in 1901 Steel had .. s..tIl'" e:hOLt"t mo'Vi'l\~ 1n.O iiilOvinl'lj dmyn f'l"o-m tho In:s-b low .ish:l:: drn.lJi.!). th.ockw.t.ho ~..rin!.50 on gle nlo'1ling d.o 460 'Emg 10 moving.rtod to :t'ocovoro.'nUfi](:':'.. in tho wca.g.D .o:n.om Oed.s i:t'.OTIl!.. ospocinl1y iiResht= 11.)·.j lS::'i2~ "'"non JJ.

"or"support f e.:l' frOOJ.cts: ~ror' 'Ul..la :f..n sho. od this S n l. . la.Ys a 1"o. b~s .:.11Y'l'fQuld be tho mou:s FROM BOTTOM OF l"'lHST SHAll!? DECLINE --_ ~ w:. Xi!! 'otnc r l'10rds it Ls :2 o:1r point s up from tho bottom a.ook: ttd""'iiln.. [lcmi't.n. o1forl.CO in ·tho-Price OIlS'DYe tho first t."l.j' 450' M.month.a-vert!! d.rom 60.Qill1~. fi:'r'Y m. st.rp.ows' thrJ.rc...t:·-4::.in to' th.s O<lleUi o. Th. top-.n 'r~.G r.-H-t--t--t--I I 11/ I I : i I -" I. S'U ppo :rt point 3point.int '~lUl:dc~d"Ttl {lIld makes: tOP--i".(lS it i.s.!rpOs i 'b 'ion.O~ m01!'Dths toS4. 08S s itbrell"KS 1.!'tQl'" thh fi.'!!:l. The.i.lwtileks or s0verill m.i. 'W ry high hvc 1.nr't.l'ly Cl.. x 1 front tho bottoQm-~thon 0.h month froll". g. idill:nCG po:i.pOtil. 22rnd.d.1 .:l. in th'Ol thirCi.(lsh. for some ti~ll/~ t lfi!.n.high leV'(!Il~ un 1..>¥'H. -. @d.""(3.ci-h.6points up abcvc tho . t: hi s may beE'!. ~ 'i'u.t..on. .stl1:. VI l. m. 1!he bottlom Cit.:.sl:.r fir ~t· dec li'l~~ is r..l'@'on). the stookii.n.. '" next bott·{)m.. 11/1--.'lgeJLn.av6l"·1lI1 dc. to' see tha.: '1/.. tho O(lSO of' support ~ !(I:..this ie..l. po./il1 be in 'r~.w Q.ol"Y.® to t. 4Go Wll£:to from. B..g. s tl"ik~ ing tho 45'0 angle f'r.then st.. tha:! top nt 74.eed to if)" d. I. "':.ook 'this r'l!llc: After a ~toc k has adv..In 0 rei e.ndIndic ~tes 0.~..-f it cilQOS o.-+1 ++-H-t-t-..to 17f.:.rt tOl:l at 74" on.~a. t~ wm't.t'ion..lsobrC!l\k~ tho EJllgle Of 2 x a.·es t.f'i:.0. it ". w..d. st.s to.d a. a.('i.u 'n~w high tQ:rri1i:.:n.r'O:Q~ 'R'o:.CI bott otIl (at 60) at . dec.a.eaKn position ~& th~ n~~t pOint.at h:l. nm<f ion [\ muchwQt\ker PQ~j.~Q l~ n. the 45" ang..~h 'but l·o.t.II.!? t<n~ holds for g. trQ. em.i.n.}. t:'h~ lioott. f. k' P.c@ to g'O short 'iYith sto.k. Tho 'bQtt om o.ont:h. work lowc. r to' dO'tormin e whG:t a it might moe.f the on thi~ Mcondai'Y rally andi.o the 'oldl 'Ii op at: 7<1.w.tho i"il'. I. It. 'W'ld'ill' it. ""'10 d..vffi1.~.1:"!fi.t'J:F.lw(l.:r'o'l'l.i.n_ a $'tDck tlb.s ~ trurpt'U1'n~ thet::rc.1'1 __.$::: 'to.Qnths to.VOl).:. st.ls thv' (l..~.hl"£Je points I1hovc the 45° antlo. p'lo.t WEll heve sta:rted. ul>u~lly mbl.omthGifir!.'Iillg..j5h: of'Z :x 1 (mo.op ~ fbe.)Si:stWCH.e. the Hli.~.clino ... Being J!. 60.lino t'. 45° OO1gl.cas $ix starts !l.ago.ysj!i(!vQTe. d~. l.hs V i .~ -iiQto (l 5.-\. a:t 64.6cline I thoro it c.rkod J: in B. decline. br~'Elk'S un.s.- 'II . You will 'JD.'. l'inallyc:r'os s 10 ngain..E)"ttin.stin~ on th() «njl:l'l] Cit 2.~s fI lo:1'fQr top .tho.\. then new' .19'ort ont po i nt t!'J dro..d. bccrLllS.rt~.du the 45° tngl£i fromtlo.O it is sO f<i.nd 1.t Oind: iii.d.e st 0 e k advntl:c C 51 to 00 en the.sJ.t tQIl~' the Tim® oquo./fid d~tn {lP.1!llg.th ft'01Ii.dvuTho. I : . 'ii'4~ 'bro(:)ckLnr.

g1. FIMo t() buy tOt" llr0.:sb 000 ail yarne.t th. 'b\l....is mglo dOlwn .s:I.).fibno'lds for S(lViH"~ldc:.e turtl. 0.5 it ort'~lil eeemilesv'ery i:mP. 2t.ottime from.ondtht.t1l0 d~Q l. of: hi. days. alwe.l.~ it i-n.o.l:n in Oi 'bull mo..kie. th0 lll.Eli.Ti..~ us 1 hOc'VO done.ign.tnnd hO.'Ei en indication •.l~ .:¥ 0.note f!oLnt n. .~ bOott.nt tho.ed aovm .1 then Tenets onlithon cl"ClSSes thiil: fil·st.~ ''Ii~U10. for' ~ 'long time ro'ld thon lllQ.iuf.'l).nct' . .lG of ':a x 1 coming a~ froOi'l th.f: thhfirst !Shtl.lly po. of ton .from.Q 3 ·months·~-th'lOlnl". 6. Q hl.id t.rt ll\(\rkod. pt"i.@ st 00 k 'b~Q ko b D. 8.. th.o.AIl.r A.1ces£1 shar-p . "{('e h:!.dY. c.l'ked f(.or wooks \'lhd'or thios angle 'or on it". S wee ks. :.l"t -j~ll In thi.:ys.. a MQuthly Chart l"Bli:. it i.6°' ffil.Ci'!"t m.r 2. .0 tot Qrt eel: M.i.r:.(}{~o-ra4 1.1.0. On.from thQ 1!&::l'"C hottQlrte-l"C'sa.rpbrQt.:0'15 00 k I'OIllying u po to nrc una '75.n@.'l"Pbna k l. o.11y. (l.s.c.o the f un glo 0 r 4.c h put.. o. .geof the •. ro.'.6 t:h.a...rket + RotGl" to· Cho.".).h(l .i. c ~C\P a. ].l]. !l. c hurt s hO'l'!tSt.declin. vc.c.lef'ro.$t .'b.!I'U !'rem.y~ .."1. 'mg. c.y 'Ii%'O de position '.\K. it.(lI:niEli5 and u!'terfffird.o. r.$·t~t"h up on po. It dec lin.MAltlru'l'-.ULL OR BE. 10 cO'lnl.H~~S ~ or 2t.:}?eoio.(. has n sh Oil.om 'c.·ll.d.~ Afh r .('Ill g l.in.k re. a01. to' 3month.rk.!. Fcctln 4ilO'.ting 2 to .gher Fri'3@$" LASTS'W:nl'G and :[l.:. 'I'b.~ OCittO(Jll'i!II. placato 'buy for tl.carry th. thot.e t 01? ThQl'I1I..!fld"W'()ulocl b. the bot'l:.g ntlld drop !l U'ttli3 below "this 1ll1l!..o..a sboe k ho.l'ormthl) t'Q~" whi. I'.e.s.o. stock has: hlil'illU .50 0 omlin.o 19. . --- It i5 im)?Drtunt ~o dro.". on 'I<h".ot:tom. li'!n:r~.i.a .oO"l thfl' nn.r:p dee line.t Iii herp decline.l·o.lly tho 1.ol!n--then 5. q.'lly..an.die . movb':ll.ys.~ 00 4050 f.t.s.overy for 2 to.les hOJ11hhe point: wheJ!"e the m.10'1'1>0: o t 1'1(\~.).et . ti.o. 'IJllde:r the lows o.tho .t .iE up .d.d(lclin. Ap!?ly bhe swne.wn tho . ex:runp'le.stock ydl).mtes 'thlil. :5 d. in.'Ve d..t wherot'Dt) 4$0 !lll g..k under. _. 'bo tho squaring out .odli:.t 1 a.Lng f'Q r s Cit'me t lJne W'l.li!I!.oin~ lower.ui. d{nm.w ~n!!.e m.) it!: l:Mt. c...-i. bl'iliHl!cS .r th~ f'i r s t .t h [!..:..'01.c.t it mad. 2 to :3 'i'l(.t Ell" on in a. rule whon e.f'-rom the bottom o'£' t:ht~ fi r :s.

~fto:r this first o.. In "If€ry o..Noto on tho "ffo~kly cho.d tUI"l'l.ld 'b~ ClPQ'in. gOO ond.stuI"I'.nd crosses t. l.:nd itldVnnc@d !b.YJ'~f]/t:h stop l.t.1but on the.ic h a. H mM 01 0.rt:or th.c.n III or-d.:.l"P' ....r.od All Gf thoso rules arc r-ov.'\::00 k <1·0·0.ho c-.iocmg..lisg.d:own.h!l1"hJly and :r·o.l''korii:s ::l stock tIlQ.e cn. .~l..r~:nd Levo 1 tho.I' un. h.glQ of 2 x '1 from tho t..ct'i:vo f'a.o. 1.rloot 'QMh¢~ tha:qoimp.(.•~.S 'br(l\con .0'or' c l:l..O)? ~ !:il$ shm'm on th.trQTl\ tho l~~$t top ol'll"C'. lm·'IlI. N'ld ~'II.en rnl U.cu1.lO..rt thti.r' 1'11'0. !.nt IID.:i1. for e. 1.n. :2 point:.h. :ro.ort£'.ily o r.r this tm8jl...0.x l. "bi.C'mp10 :: und On M~].to the c:.stb'ottol'~..gle of 2: x 1. :l\~ tho end .. r-e ru:lhin. '!IlO..l~T' il.!ockly chnrt ..!!.oi.c:nglo o.. it indioc:t.ng.f.o 31 in Sop'l.2.r".ss- .st". July 3. 'b't'oko tho 0450 m:I..\li.lly··oo.cro.glo of 4..(1.t..st run to bot't.o.:.~d ClO'\'ffi.i'il o$.y never."~~Or month) @d..osuhf.\l'l. do e l:'L The ro llo'l'f'od ~ w:i'l.h'V0X":Y S!l1(l!11 r C\ ll'i 0 s .d~: iug.l..d to 50 1J.t to i.~) l}ow-J enes :50 IndJ.!t is im.f!tl }i.is bott. .~10 of '2 x 1 WM 'bro'kon i' :it i1t:I.lly ~:r.El.die(Ii'bod thll!t t:hc t.md Pric 0.d m~kc:s itJ:! 1::.)tod out.:.lmt:tull).. €.ck .~t 1l::0'P 'lit 90 ~ :to Oll'! wh.l ~th5.s.portnnt to' not.o Ol\. O'. ..<lP oil:: fJ4/.in~.... whi'ch i:mho e<tod th~t 'L'imo .oJ!' 0.'lt tho 'bond ho. 01'" t. Ju.l.bQ' ~~o o:nglo !'rol1~th.~tlLr1r.OOi. mc.oy c:r os S odthi.'. c Th'\ll .o·r~od.J\(j('l r1ud l'o:!li:odon 'uho !J"iI50'r·.o.yB!to.s IMt 4io:p.nglo--'th. ~h. t.Goclinc.o.s·t ~d on tho '1So. 19'32 th.~las from thi.y lioova th.. ho.(!. 2 x l (D.0drmd.os R'Lr1!tlo 1r:i.:b Iii SO in 'tho "'". l.n.:tl. !C'!'I# 41 'on. :F'o'r ax."fo. wl1(Jlll 'l::bo market 5tfl:rts d'oWl'l. p~r d(lY.0 t: r'O's od.v()rtrl.1.oni:bo .lo of 8 x 1 i':ro'llI1I ·th."0 Qquo. top [!:t 9. do.i.tch \<lhon t~o m:o. WQ\:l.@..lo .moV"ine.~..~.'. fr10m thor.~."'lln frQmtho ·i.r ~ 1'932.l.II'l['L..~.fi4't.t tho.om~ Whon thg.\str-1!.932..9..rooo.hom."'ch sa.ly S.QlllI+ Dr::"").s . 'rho (." 21:0 Z pOints undc.glc:s I('..r t op-.l o~~ d (lIO li:nod ..

t:p:'ltiod of ti~-~ th@.alw~ draw e. shar p ~dVan.*a.corrd.li'l'Jarlket d€cU.5 . !tiO. a very im... Applyt.ant tops and bottomst-o d!raw .~ 1929 Bouom of first sharp declineApril 17 ~ 1930. it wi U dr o:pU!ooer important angl.J:' .'i!s~ 3 ~ 1 S<2. 'rhe se C on'ci low-er top or SIl'i:C Qrnd:.~f ~e'\i'e. 10.'l1el!l:8t big swins.ed..U bacH:: UJrI..!"ii. then . bo·t tow-6ept.t"th lower t 01'. the :he.oio'l'.l . lower~ opJuly 8_ I-n.e.nes .:. 'fh.d t. t OltI$ an to hHmorl1'h1.aft·'er they Fe~Gt._ All JTe..le :frQrn a secend.5tOC ks ad.nie Sa!T~ rule as a.'9:n . s:a. -6 1S' r ~l:I. the s~cObdi section and! mOV€S up ~ia..:.. w'Metl . up or (I own. .ti..'Jled and the sLack C!rO~$es tine high l€V'elof the: f irsl sect.i. i\.p ~.ilCl:W the Ir~ j OI~ svi itiS' :fr'OJIi) Nov®l:ribe r '9< ."" angles from andt o meas urleT lJ'!'.• When an advance th(j! fI}.r'8tJti ~ char t.orLh~ bear :rr::ari~~H a.:.$ttottomJ' you know that the trend" has turned down.J.~~~~'ber 19'J2. rUn. in 66pte. t. t o~ .8.St lroe.o a ~tron-g PO$ i l.~ ~ Extr~oo l. TOp at f.a.rev ious tops.l..t. 0 rev . 1g~.d~:r 'th@Hi}'iI?hiLch is an :iJ'Kiica.ar't.@:ry important to dr..a.:I'lC~ a:nd. f ina:!.rf. i5t.l.T't!.n of a DUn market" if the~€ .• which~hoW's thaI.j' Ct'03~ a:ng.les frIJ-liIiI p.m.here is a kot of !JiI)O~. in the las t. iM"li1lbroken from the lc>.h~:LT!edn I..l.Often culminat~ at the ~nd ofth~ third sect len 11!.u. ..i on LhaJ:.f5. hie-nEW' '!)ot't Oll'l 1:5 a1= w~ v.w.Gh lijw~r to'p aoo \il'a. they .ling 'of tbis t.important angle...s the fi r s l de f i nH€ lila ic~ t.5 .tc:h~he:-~ngl~~ vnt il th~StOCk.!!. Th~~e -are the J:Il!O<st :Lrnport.~ e:g?<~nl and react.~n. ~i<!(i! hi fj''her bat.S:If?: of 51:.a.ock has· been advane ing fora.to~j t.~:l3. crossed 81.old d oW. Ind!u@·t.oed!·r"~:br~.lI.'ber. Septembe:r S:EC'rIQMS OF MA. :you ~ho'li!]d .. U"t):t n.is was :r.It 1·$ ~l:so import alit!.QW.0 20 pO'into..i on .hen f.'ll""ketuns fors€veralw~eks r 'Oil' s·~ver'al months :and then hal~s for WEMEl:ks 'or JnQn:th~.s.n Ho¥~rn!ber 1~35.ime.u:rned up ...er a :$ t.!l.[).ir]trut1:1 it Ji'tlZ:!.portant paint to wa.ain cross the~ 45° ao. ~OI:'lIj' .ed:to 50 aooC'ldvanc:0d.kbieiSs.hiLrd or f cU...ngabov·e th~m . 1 j Aft .Jones. at' bot. when the Ave. 'the: an. Th€!:l.nd!.harp de:c 11 ne and 1:S .rll:!Lcated . tl.:.e: [:r()lm as W€ 11.!.t..ra&. in the last.o!S:$ rceched e" hi[fn of 119AI to the lC!1Ifa't.anile~ from.€ in3· t. which is.ng up i51.. far .!g:Lng t.ir s t.rialAv €r()l. 19".ben r e = cover qU!i(:klY~i3'et. hligb@t' ~oolt.S~c:o:nd hiB'ner bottom frromwhich bull :!r!3J"k€t was resuned.lf-way po int. Dra.es rallied to 81.sections .and ch~'f.tch as ma.nd.i!1rl a 'bi!S~@' dec Lkne fallow's..l be seccnd \..ce art.Oxlced t-o 14. decHn€ of '79' pOints . Wh~n a 8'tock has a s.B'ns.8'lel1l'f'.9~ i. .l..er b~e~' 11i~ !~e L €r. rkLrch.. j 1'.ne l€s from h ig'ner hot.-ilef? frOJTI €i.53 .lswasat 80.£'ter they cro.rK(]ts .a:y".. 1932.rkl~t cam~i.es tbe t·!J.40'_& in JulY'.'t ~ 6 ecoir)d..".. it 18: g'etting int.ar"Ya.. down over at'..a_g. . 0 it ?gai'l:'.l'l1akingu.an edvance ~o 119 1l:J:J\y'r.n b(jl~ ~ ke.!.tKE'rCAM"PAln'MS:.\I.ihg to 'the p:i1c~ of th¢ stock--t'nen the MVClince is .Z the Avera'Ef. ac..t-hey aO. 1!. lElOV l.mQwe::.Hr~ he-a .9 .ot t O.ehalf ~ay point Q[I. seet. week ly or d.inf¢[" another period of ti~ and fjalv./ eel. Uy !). 1me and advanced ab'if1e 81 ~ they nevers.'.. 1 Qin. t i.y.("art-he third t._ ExtreMe hlgh~ NoveMberl. cro~s. 4.and. a.ill:..g.l'!i8" '~lbQ'iJ'e the halt-way po·tnt.:tiot! of w.va.

T'he l CJ·ngr the t.change qu ite of1.~:n8'" 1p<oint..na:. This ·wa. t her-e wM another' advance which st..hls rult.rldby apply.M st eek advanced "to ne'W'hi8' 11 l. has broken under 1i.-ion to 68 on Sep'temtN~r 21..a.y· .he ang'les 't.hose on the Daily Char'l. be·a. very imltJortant BJ"}d :generally marks a culmination and.0 the top ""rt.rnlb'et18.here was a re.ke the r t..:may cQn$\1IJ1.i-n a S"poin:tf'aJ1ge. i({n a.op ·of t.erhe posl. if a.~ng an a.im:lport. while ?tI.erl i'n a. 31-- SECTION SECOND S~CTlON~ On June 2. Il'aj'or chaJlges.e than t.o t. o:tlfI5 you.! in trend. ll. The ~t eek er-ossed too top of the aecond s~et 10n and r aacbed of the advance CM. revers.a.ed to 4H.oo of!.oot when ralo'nly o..a:n. i. a :re:ao01.ane! t. Then while' ~kes H. Thies fourth advence ~.ed dj.inning po lnt .he rOUf'i. sect ionwS$ c::rosseda::nd on N.ilipor:(.e~ eaS'eS' only then reverse and follow the!'l1ain t.. A stock :ti'roOk'~nunder is.~d and t. or .l. in whether th i s is cro6s. m~t'ke't. :t.O"n t he weekly has..e ~.het.t o~ll.• j . f~ch 12) 1935 CHRYSUR . ion 'iLO :5'711. iiI.oeli the d lBt.~. it will then l'I~ove up 1..fourthdecli:n.i:.ai!y tnmd! can . can d ~te c t the The engles on the Mont.er J.nd boOt'I.chart.8.t-lorl. hia:·n.k!est posit-ion whetJ U. . Caillllp!li.&nt sect. are' Ghow.-pr Ieed .reater import.d UP and mde t. at. minor 8000.i'ig l.ct. ~. top of the third...a} fora big~.6e\ttiQn.hird.rK\et.y:s cons id.~ beg hln.sect. .8'.hly and Week.~ eases .h f. HoSt.he d.1Y .2B.e:cline.he Monthly .hell away from to he beg.ly Char'ta. shQrt.)!ry ~tive and. is frQm. lJl f inn..'cne:d. breal"$ .In O"Ctober the top of t..en the t..th~n t.~.ne mov'lE!or in extr._.i:s'nG.tr ibut ion and 'or monthl.:I1t3' per i 00 • 'I'HlRD S~C'!'iON'!'hen.renci U'O'Im.r ~. t he more lm. Wat. exa!ll1:ple~ It t~ alao DQtto:m .ect-i~}J:"l.r ied 'li.the ajorchane-es.am!. You wiUnnd. on Alwa.he stock is. turned d'o1fm...... ions Or' c!'!LfJiip8.hey w.. t r·'or.t inal top and 8. Qf" e~amp]e: F FIRSi' On.. r high at 74.F..erperi~ 0'1' tillf~ t!Jan the previous . and ~ r e s t i.9f'k.€:¥e Is ~ reach itlB" 62-ion A.~.· 4'9'~ on.henigher the . cOilrl'pl~t. 'F'his fOljJJ:"th top' i:". cps a.uw • aft.he ha1f~way PQi:....ac"t. SO.O"ve.(:i:~ to studyartd wat. V'. in the hfoii'l'a'kest a 4:510 ang-le [F. top 'of tll€ :fourt.s Reverse ...arted AU!l'u.·f'lt.f:!estock then the stock de'c1itl. are af g.y16- . in. w~*'-l~.~'hY lmpanentr a.L i. "bear~r]. a.s . and .y be a.<mce a B.ember ll~. sect. FOi. H. which ~a..lR.n eeccrd ing t.ugus t 10.ort-apt i'l. because t.ar~QTe trend.the..b. when it. ion.e:r rest ingand f'ee.y Mke second .eli t hsse var lOUS ~ect.e.!il:IO$of l' r om t.cck Ci"'!l. c:nal1t.po["tant the C b<.h. to lO'1atc. top 'or b 0 l to em.MOTORS d.)5!leS the third top.s 'a most important 'p-oint. dis~ribut.c:o. Thill .t ion..he ma..ng!e :from the top or breaking' under an a:rJgle ir-om the bottom . g-ree...e e·spec!![tlb ifl:.ng Le or cr asses any . of t.h eect.Mei.io'rl when imp. .sL .he second :sect..~: I"\lnoI. 1m.Lng tt v'ery helpful t h~ tl. fQUow-ed .ine place. on Sept.en.rend. :6ut~ remeJr.he wee.ant.TH S!tC'!'IOM.Chrysler re.O'..iol1} where it held for 5wee~ks .t ang le. 90. t.and Weekly Chart.when it.. in trend.m.~et.cec Jl.ol:" .: thethi:rd was tak.. imeper e lod lias run .n t.l-o!n iT.qh the 8().r uri!.~ t. low ail.ne section oro.t~r pen. hl"..Maori poo~f.l 10 a.7 the ed vand e star'!.e. bet""'e~'n 8"rlY imp ort.iqn:!>. Hawever) . 100..hree l.

rt.. point oj[' th@ price plc.dy '0 tlQ l/£-'PQ o:X"l.f'ou:nd 'b.took i~ abmy::.ge cye..Jy i fl. on D:.·O l.T.up> :i:1t:.b cai!1il'in~ u'P. point to 'G'L"dlor unde t"'t he is When. stQC k Test:.!i!.ek d<ovelop:s .. from III boit. o.~ D.!]j. ~to'C·k ~.t.g mov.$ youstiU 1i!\O.tlh.:l. it Ls no 1l.~ho.k$ the :first importcrnll:.C tM t'_"l glc Q. Cl.'tG~'/hcn Qr' dl....oforo :i.x '1 ((l. ~/i1-1~Qin{o.Gxt· 'tn@4SQ Ol1g1e fr'om th~ H.bove thl!.gJ.d.i'CJ!.fJ..O'i'ro".od vr. A s.P.l'.' above tho ho.tion.d Qd ) on..S and )JID"Ve. 'i1oekly brf)D.'Ilitl.n"y wc~'.~ Qf~5'c "Nl.®l(' b~.(1 "¥fm!J.l"O~.'lLiil .d o.riod.J~ it i. :posit iOll.i t. Asto."b~n it ~rl th~n n oc. positiocfi.~(!.ly chD..'!i.11y 0'lJ:.ssrr. $.)ft f..Il"YI.. nn.k:nG!!i in ~ :s..d vane a.li~l~to i'u. T!b. h~l:f-wo.. wh.i~.l.g~s it no ids: o. 'bull th.r1L1(n out.t .ek shm'\!sit~ first 1i'rot'. p05i~1.thly cho:rts.h!l.GiI:ng ·t.nl<.k ~1.i'Siml. trend.)ut 'hhl'!) po. ro.!']JIl'.~ V\'. a. .\l: on. WC1.i11.l"h .n~lo.:td:: CC(:Jlfl ·vrThoit.s..lf-'.E11:r.y:S hold v. huH 'R'LO.V..11 2!) po). pln'cing. tT'Q'I.ks e th.e o'i:'i.::r !.~ in fi' v~r:y . til!l!S.£J.rl.Y::J ith5:n th~.s a s t. lon.V\Bo th.o.:£-wElY po int" 't:'~.gcli..:.h~om '1:$11.o.l\\lfj.ly chEl. tho d.s..5 in .l.!. m.:. n.l!i1LO 10''''( on..thly charto'r~(lin a lloinh:p!lIl' m.w'IW point on it~ !.aily~. ~ 1.t:.th.i.['I[dY[rf1cQ~~tQ l~'l) 15 0 10 in Il '!fury w~~k pric()ll\ov·cm.:stiug 'Oin . tho ll'i. .l Q:f: g . s.t ~ :it is ilh~T~y..~I['€! of' timo by w b!ZlI:l.e lMtbotto.H)Kly ©.i:t i. comin~ \tp.d.QO:! :s~oek£ Test 10 or 15 tilillies em th. (~ ~!1. i.nd!.:j]pc·cj!.~OgS wJ:il~n it broc..s.1 l(o.o·on tho \'J.th ]?ricC!!. .h.ou.nd f~>'iis . th0 il:)l!)lc..d .o..m in th~ :rino...n . tho Z/~-po':int. O'EJ'(:iU~ e<it f ho.t~y~ . the."'i'nsn nnysto~k tl..~s~. e. m diuYJ whic h.~ily Ql::.vc:y peri'l1i:.{ib.e.0..l'~d out.y C'Pft we"Jkly Qh.~V~¢(l.'l. i:s OrQ b!Jn.t::.OO"!. 'bh0 ~markek:tol~ a. is i~ £:ofm..hQ VfuC{['. tcol~ fr 101m hC!.:tfii n.ti.~ "bhos~ t'h&t El.[ los :f'ra~ '!rino bQ.c[to~ til on th.o.JbG.doT' it'~-This is ji:li. loug p .rg.!f".b k1Ll' f)~..'Qo~ition. Dr liI:OT~" In thi.n.k lln.rrkot·.!"G .dict!. ot:.on:t'nfor ..S .~ .lso s at~ to1l:nxy wh~n['< sto'c.f' '2 ~: 1 (~ ~~i.'li.fii1e. in [.f'tm.¥m1cad :'WO ~PQint. Wrl.voth.ion VlG f~'!' M 'ChQ cO'ttOtul is con. }potli tioo • .hat'>i1::.g.V)}Q. of 2 point ' $pe:r oil:.··o o.).Q". in ~ v~. 0'0.!.n f(l..est M.~on. "lVh~ ]folsi'tiQU (l.H)tti!J.d~ 'l:.~'l::ock C~m ~xt:r.kl5 undQ"J:' 0-" mon.130 11il'!L~l@D.e"'. tOo • I ho.¥ h..h~ 'bnl.l.t'h'il! V/'til ~ l~')Ly 9 ~rnQnth ly ch~. I h..'li.oauol' tim.Jo..f.CCrthodi. n.u!:'.. '.t. ~ in t~.s then n.:A1H'-way point a r thiS prl~rviOJa~ 'p:riee mo-v-emBst ond t'hen: he l.on the> t im. position.nthJy cho. i~ when.e ii. o.gl"!.n tr~"'Bd beRIt market--then'hhe bre~king of ths 'n?l~ in.crrJlC low .:e :2 ::. "~C1o ly k 'pl.. mQ:n.~r e the mo stimpo:rt mot t :rondo iwic ~~ 1":5. <0'[.~1!.gi1i f'f'mm.ib'DVQ th'e 45°~gl~. 150 lJirr.s a..im./mli.D. tho'!') it.rt• 'pointoi' Rememlber~.:. "fier:. aliJldthe 1!!'. illloJ pe.gl.itioll.:/.o ~d stlJ:.1bo'lJ'@ -thq v'!")ry aC\lit. 'l. At lOll~D..showe~ :aut thill {. b~!5in$ 'Co angle 'f:rClm lID.aily.c.~!?(!L11: o.w it..r a:~o.a. the tilM porl.iji{i~ r~'Pp.e di..0.qu.r str't.e.o un~le of 2.t:OI.toc ks "ihich have i:hs 'hii5.@rt i a ..x::rin~ point o61o.~ ~. x 1 @J.rOOm.ya·l'"'or~·~kit Th'1. on tl"l'0 !non. .Op 19toth~r $(.cona.~ 'ther.::. (.t:h(l e.t.st-. an!f.l they huv!' ruJ..'l..~m~ as 'I"00. 6~t.· rr ru:t~ 0. k ro.c .'il~ fo.:ak po:d.up D..ent" Ci.r.l. the s.other iMicD.:tT'ong..bcrut thcO 'i'to:. 1.di~.(i(UO.'('hen :tt~r6:s:.:tion thctlt (l stock iB in a rstl:'ong..s.l:::h.:.a in n (.tl.'i. .I.l l"'!JIn.ntllc ~t:r0ng@st pos.. 0<:1<: 'ho loliB!1liQ'o ..in "t':1: mo:in.(lily <Cl.. The eIncb lo.thJ.!:it-·'t.:ve . 1i'IlC}V(l': UThd inCllic.. buy i$ on tho t~ ap lot.Gnt.O: tothiJ' o. chan.Qvc:i~ to poi fit::l p~It it. toorot:!.:. iu.

c:Elm'Pl®: note tllo im'~Qrt @'I: AV(.k positi'.6° Il!lg.n..)I'a.c o. k: nbov-~ tl" end tL5i\. on the dlAny.Jou'o.0000000g.ct'ilic tQ'P ~ and! tho po int' i:!I.5° fU'l.[5. up from IIOU Cl"'06S0dl tho.ottinr.soptomb~I'.32.dc..tClYS o. :386 Woe ks .t'OJlgbu> from tbo top Cl. The 450 . ~':1i.Iilc ed t-o lOB ~ what e 9~ thoy hit th~ o.1. For.~ts it.iUl. for 0.t !! mee the top 'Ij'GiS _lInMO.:ny slll:lW :r-ulo o.t·r.l>~ :in tr<'. • wi 11 b(lin tho 1 ntt e r po.o. Not: .ks th~ ou.o'f .~ angles or oro s s pro'VloOu6 to]? s ~_ 'llhien it br oo.. 1929. bre.I'ho.'O 98.l(!.rcmg position: j. 'lh.5° ~J. on<! when it if> c).r thQ m'J"glaof 2.(f:l-t e.'l. lCiift of th.t.la'll of'..kp1:l'.d:. short sIJ. .l'lcL '!'h.y im'PQrtW'lt OOlg.Qil'lG timo. 4S..• .' ':lhisprov€)'~ ih~ imjpo.unAl d 1Jlri'l1g thG 'I'la. J W1iSlo or.:.) 'lroek ondin.th0t:3 top-then i.y o:z.P tm.. 'p-o.()CJ.s_" especio:llYt. eros OX" Sf) S c.s Indu.is Tlns.f$ OOi.1G lJI11t'il itc an er osa thes.t'iod 0Gf' 't'i!J:\o ~ but ..bo.on. 1'935 WQS 279 192'9 to'P ~ 'l:dlcin.ffilg~ 'p9ixl"1. Wabchthe 4500 OO1t.l1dlind.@.le d:r~'ffi 'f:rom tn"D erlrl~liiI.v.. .j5. 'i.10 moving w00ks :rrrnn'1h~ do~.gUlp f.in.o.l' v(f:okly Cor 'm.1."'1(:.t.~'bi!lniZ).ppl.J rul1!ll~ry~ 1931.v1n.$a ~trong red:~.S. 1I'lhon IIlI :!:i30Q.<l!:lctedt.o..1J? f. k is in aGtl"'on~ position.e ••hat . 10'''/0 b .dy to go low'er. On j.i~ in 0. 4..:ta that:.yo thQ.optembor1S. o. t :rallies i 1IJ.:l. be ina we a. of liS point: POl'" "'.gl(l.e of' nng.h.ho 't.m'irnon it i~ k:€lapin!.t t imq. 4S {H"'Qt~ • Tb. o."orn GUl.as l:Ml"lo. s po .lt tho 'bct'iGo.otp.:l-in...::{ otno r Oll§l'e orO's s ~s tho 46° ane.s. e.gpo. st.J .y top.pond.r'C:h jt 18..d tllo l!..±.d.~t tll(.(l.nglo troln the 19Z5i top Qnd 0.r.los f:room the "batt om it i~ in a :I . 450 u.es.g 2'7'9 from 581~ '.rto. IJ!.h . 1..fh~n..lo CIltd 'thw~ it J th fl on g10 or d ro'p]?'in.m.l:rpoi'Ut of thia: nngle tU'l.. \'lnor'0 they J"Cils"l:od tho 45 on a.i:tho t s. Got 107-1.k t~QC!t'L.34.'lglo of' '~.k position ~.r.his h:o:]?pe!fl..rro'fn !lli.4\$00 m1![1~ Or' tl1le onglo x1 cO!llingd.O.took w:tdill:g FQbruo.'n"::-. AVe'I"Ilg.. ])urin.o ('. .t'or a :r lo..OI.t)k cf.tisEl.M. tho fir.ro.i citr m~Tl £':rom (lU. ill. 1'9'55..y..!:Olng Febrllltr'y i 2:3 1L 0 rui..I.loy e. :si..Ji.1:5'0 whare the :. up frQI'" tha .th6'n l'ollctod to lOO in tht) .c. x 1.f. h EtC.diuib F~t!l·u. croasedt'ho 45° ongl(1j .. "but at th.rt 'of tho Dow.@.t 19.!l.comi'l:i.t o'i' 0.O\'ffi from.hol'lT. i't"Q:lll.m:t•.l'k:ly cho. mo. 3trQn~ 511lpport pOint."'Quld tho hi.h.<! ~lso hH tn~ Mgl.gl~ Qth~r ~gl'~ ~o the..t time tlu.'Ill~'ft.l... CrOss ~Qm@-iml?o'rt'n:r .gle .nJ.k 'P.g tho woCik 1!ln. tho 1929 top • This 'i.o. s. g. it is in a .t i:!.nUCiry 12~ 1955--.os. 'July 8~ 19.$ at thO:.n. cho.~ t:h~ ACl'i!llYo.then.st a.1'¢Iek)from &eptei:Jlbel"'~ 1'929 .{} b a low k: it ch.f:itotn 1929 tCJp ythell down .e 4J.t i:r st tii!\~~.l:'Qmtho low of 85i in ..n...osit ion tmtd getrc1ng l"ec. :lii I..nglo.~ition.lo.rikes o.c-o.n "b-e...n. mujor mOVe r.l'~i!).oI:l :!"rOlll tho 'bottom... iDnd the AvorD.g.y 'hudi 0''VCllr r0~tchod i.O' -of Z z 1 comi. W"c1.ti.i!:l oto s low~'ir .g Yo.. .o :lln~JI.$.f1!. x 1 mlglo (e.:il it ion :on.t: i:'ih i c·b.o l06~ itl thG woekcnd~ng J Ll. Ai't~l" l' OIVO 1"05 '0 5 a .10Or 46° angle i'rOlll:.O 'k is' iThot s @:.§o:.go:l -tho A otO{l..ry 9'..ry' 16 ~ 1935.opo. d.\"oa.fr-om 'the top .st()~kQnC0 drops be10""" or ff.l. tho price ~0 ~ which the.k 'underth.on.rt ·of' it rOM.gosmovsd \lp to norl high.uc.)ho t Img.O high.nth!.. i 'b :...no~ha..oi'15° comin.i.th1y nr'. ios to . froi!!lSaS . it :i.gJ.lY hM held within Q. pOoi.s'trilll Co st(l.(nm.he:!i !iO~b 'IH" .o. of 450 <l.in "' ~hov\O tw.:t is~ ·itl:llltl .('Hi.l:[!~ b~ axpoctod..d.rylZ.'lllood t.dV!\nco st". i'rol. 'v'e~y s'i:rm."oss..l..E)S amo time it e un. 'lfee. 'ind.'l'f..::.dlho t if''il'st tiilfHlI' th~t the.tho bottoln~whieh.{l ~ 'X 1 !ll".crt 105 for th~ . 'l"hit:is'IN:!.. . A stock .ora we a.Q.

h..leal ang~e$ from: t-ops and bol. moveroo:nts devsIep.n.he 4:S~ il!{rig-le ".t'i.r:iod back in the sa"..e.st IlOU! a:nd ~1901l • . A11 of t he oth.e:K:treme:s de. 3'0 '0.then 10 years '\:l'oUla be 120 points or mQn~hs-. at 5.. st.dI on any. S.out a squar-e 0-[ Z.t'om as the lTID.~r:I8'e.cekopene I a.s'~s: at 'the rat~ of one point per month. square' : of 6'7~."Qu.eo.h~n ch"'Ulze .€!·w. S.~r ~I1g. c:na:n.oc}::has j U. make up.it. or could Jil:'bke another equar-e of go numbering Cr·om 00 to 180.r ad log bear ins as .to found between nu.ion . which hes cost. t..refox--e" in order to d.of 90a:1..a..ock breaks any of these n. "I'he.g:€ in trend by th~ 3-day or sem.o~ry 1910. You can det"erml ne the firs t. om or t. When . angles.ears of experience and reseer-en..r import.$t.:in trend is snco'rln on the wt:!E!: kly chart.n~y .exc~8'e.. is jils·t th~ sam= as cr-ess iflg an anile frool'lla t.€ as breaking.heitH)t il. can be usedi all of the other angles are Whena~..d. t a n~w st. .in.sh.0 or betwe~n45 and 6'1 ~ you CO'IIlJLd.l ~'les dra'Wn fromllOIi> it is just the' iSM.te.CLp and.er-mirie t.under an atl[le.i on anS'les. any point b(9twecn82A and 45.'~€kty char-t is. 1 ..e'iter-mine the t. SteeL I Aft. know how to' det.rend oOn~he daily ch.. 90 across and put .:ng l'G: w. 'Tene...IT.art.les ImI. daily chart . How~e'r. which is 90 1..ne$. her ore I the s'qlJ.ell.I'.~.'ed before. n a. H10illthly chart on a square ..2!! to' determinet he po::.'l. cp ~ M you can s e € by exper i Imnt. is one-quart er of a eire 119of 360Q ~ and as 90° or the ver . belO'i'122~~ then you could I1Bk.rrJet.ll the l1atUl"'al ang lees 00 ~ 1 U~e the Pat t er-n Chart. 45° 9. 13 not necessary to draw these a.:::ula.e w~rr'e t·he 4!5. !lIE' a la.oa.he tr.areof 90 ltii ver y important beceus e lt. POS. Ste~ 1 or any other st ock. point a. O'JJl at. op.l!!f'ff'i3 of ~O..:lt.t 100 or above 9'0 and under: 135.l't io 1900 ~ in t'!'1. ::f'OU Gould.'the geo.it cr osaes any of the al'l[les Q. You can mke the c.a:tlli"'a.:r in J'anuar s. If the: stock opened a.a... stock ~e bot. Steel.~l Ii.:ngle r<i. at.ely upon t. fr om t.Y be calculate-ell a.:i..he . you could p'Iace any stock iOip€'nln[ at any price belorw 90 in t.add t.et rnlQve~·nt·s rulest-o det..-!tilZekb chart.wo to thr'ee daY!:. H' \. t. o'pened.Y higher or lower b'ot.L. from 1i901l.>quare of 4.he: semii.n8'le$ from an.5" If .!. U..::"dn on.o.hi.": ·. lliM"r ow traG: in!? r. A (:h. befor'~ a cmnlZe.ope met. is much better-to r. OI!lrJ.rend..hc:dthat will account for all lnark.er th@.'f i. {Rf. l.$..s and us ina.. n it. we use t h€ !O'C!..rge1i!lmount.aly~ sis of U...L. a.'0 15 at thr::: bott..t 135 i.n . and weekly chart by br inglng up the import~nt {}<:lO~t:r ~c.nt. 19][ O.on€.end from any top or bot. t.a.ock O..n trend on th~ 5eu1:)'.anc€ lev.e t1J':iey Cl"' ose .anC'~t. F'or example ~ Sup.ke up. way bac~'.d.t.nd ~' '\'11$ bt Q en 10 u:L~t.Us and.lldstart OpE!i't50r j It.g with U" S. long pe..!fer t o Special Ap.ce refl:is't. .n ie.Jcnge i.rr"'"'~then.i".rket.ermine the: t. he st. you could make upa squar-e of 155.he grea.ock You COl.ngles from a..ock epened at..c. ~ you 'dl11 onen get.nd de t er-m i ne wher. of gr€at. but always cons ider pri.Ja.tom. never it is imp'ortant.test atIg1e that. os s 10 years la. Hi'i a.drawn from a bottom. how much the 5 t cck is up or d. As we have !':l.on t. t lea.$: \.! anile 1.rend when a etcck is fi. an irK! ka-lion of a chanae inl"f@nr.orns..pt'ice wherei.his chart t han en the da.ld er-ees a..I3. month O'!' J<1l. we have no top or bot'tum 'too draw angles from.he t. of motJ(aY have enabled m€ to deve l.r .he~t.tion of t.tuat.ily chart when 1t!at"l'~es are i.i-weeklY Chart.r. !3yupply il:\g aU of t·ne ntle.t 18 or any point. t a and give Y.I'"'<l'i'<'irI do'.he square of 90 and get its proper -position and streng-ttl or weakne61.

.fl'{.n .: :5 2.or f:r-orntlle n".nd Uit:Lderst n:ndih.. higher' b-o·tto:m t\n.ig.!>:'> the cho:rt t WoOl d.ngles Fori.ngl.linthe ~'{e.t th~ so.ch iJnp(. nnglfj::$.ol:E PB.-toms with Ti"t1iI6.0l'~ or you C~ 0.es the l()..glo~ <sucho...l'OO\f 0.ched nt. You.(:· . fro!i!.[I.1Y' . .III.c 0.{2 rntQo'.f' 8 point::.mth:o" A stock must show Il (.J"Uiui 'I' "'.onthly chC!:rt.2~' .y. s t..l.oitlO'J:l otE~ t:w i~Li. J'n:fm th!:'.c.onth or 'ffi<:..~"."0. I 4l. study l?.o.t.. £i..nd m60t s :tIl.'b.oc k mo. !1.ud. you T'I:M2: F ERIODS t.r.rrtllo:!" Or cross i'n.. wh:ic'h ..oin t. 110'\': !'Gi 1 to .hpr tops: Oind hi!5h~lr' bot.. el on :!).~ 'l'Iiio.cc'o:rdin& to _:~ t'.l!lporto. :RULE FOl'i:..OsO .in~lv. .o:ngl. . from n~()liwedrox"l'n:n anl}. time< :poGriods on ()(ll of you.H·~ [~HJ. ThQse l. out.!.'W!~Jj..:1.3 ~.(\rts. c h.leor pri. :aI.[Ll .1'10 lJ ot-t om !1C\.:h.p.O~in th'i. t.ekly~nd.Q.• Thi. _ 1_ ~. .cn..lc.!Wi'.nglo UP3 whi·Q'hw.dvi~e 'o-nly u:.tdpoi'nt..lIlo.r ch~rt$ ~ c nr ryi ng th~m ce ro a s 1"'1"'01'1'1. -t'. ~ '~'"nUtilDOr <J ...s .so iill'Lp~rtOint c.67e.ehrl niunbo:roo.l". 33~.t yo-u k~elf "l.n.~~t.r.".d bot.e Qf t.a':l.rt--d.rt -10 i tho:!" d. h.0" " ~..t s in dio.he right· noro.o.ily ~ "I(~or.e.ngle ::\t 90 end p:r-ove the squo.\l.c ocndti~no to..e r bo'tt oTnnnd {\.mc·ebeo.e 45°' f1ingloO ..'Lr~ "".o~~ch. (\t the 12 1:w:. j 90.glo" $U~h as ~ 11!..Q rtro'l:!lSfJst TQsiBi.s t~19 ~ ec ond ON .dl5C)P..rhont.wOll. l"OCQ).Li '_'. th... """..ilY'1 wo-okly ortIlQ'l'J.~ 10.."t h.o.~oing: lilp 90 point~. to i:.squ.~l th. bU.uro l~t itudo • II orl· ~o·.irto.." cmglGs Or liil(j'ii'i. OO1d top wi). PlQ:ro s.".titudo.:-.• (:0 Thoco ru:Lfi:lcs J?l"o"ta th. price ':l'boo 90 days ~ woe k~ Il' tho prio e 0 f e. . ~. bot.k.i'OSition . This o:n~10 eoo 'be US·God .):" or go ott v..el' f1n".t you 'm.~ fo He-wi n.iOl. ar-~:. th 6 0 ()ott om and -Ie: O? '0 f €:t'. ..m~ lilt..y~.'lbRl'S :0. .. KEE.11".thl.:I.se it has re('.. ull t"l:l."14il~ pr 0-00 f ~t' .th. -"" O.i.!.ho.Qros s ~ tL:i1dg:r t::\'..re of 90 from nny cbo·ttom Or top.y ~\'fook" thoti~rlo rUfin..1 .t.th makes ~ hir.l' you wi.!l4.c. itno poi n.~ .u:s-'t.n.~.0. 60.yo.is M.tom ).t move in . '".!. then th....:.45.l 'hotizon. is tho same as It:'.~le.:llp:i:n..... l't"' ortim. j j.t is" ."'.te chian:ges in t~n~nd..UI.t where h!1i)'!j)::t'oUl.'lH5.:'i.RIO:rnS .on th¢ lQ1. lou c en b.. oC'.::.CH..O ks or mouths c.QI$.n.J("G th·ee xtrome low o:nd. the hori:1:l9n.nt M.".rE!' of prioo 'Kith 'l'im.].les~. !.• J 'I.oU~Ul"'01l1ont s o. stock fit 60 c Q·TI\9S out on.. on m..s. in On all charts-~·do.f'~ i mpol'tm"l t t::.\' t h~ c~'}lglG f!.lre ~ :st'~rt' llXlltib(._ ..)I"Ci!~.oinf!.. o.. CO'l""I'oct l rn~jor nnd m:i"n'or cycJ!.itud.ho. 221'!.t:CI..o'rder t 0< ChM poin.\r:iI!Oonth thui.:ch 'T:horoi'orc. 56~.~·ii.. h.~.llies f'or one m.r:.n. it .s:!i: ·the.li cl!:now '1. .· the prico m(tvcmeni:..u:.or r..t'.5".r-.trill meet :strong l""@lsi.~~drQ.~-Q.$ i<)r 90 poi:p.I'l..c. month l'y--~::nd.tom..n:rt > m. .?utllly .he t.·2. it ffi!.ro I' J3y ksopitlt. You shouldh(')gin . t'Jo. It i.no..)A~mplo.:o~ .t)j_G.mGL! ~ Tbil> Qj.e po.t "llr.s p 1<=..g..EU'O "90~ 156.>'(11'01'0 th.d ToO.n~o Or s'Uppo'l"t pointlof)t\.~ l?.. 1 show you .. 'Q(.sull' c.y:s ptrlb the s ~::I.o\'m en the "ilorlioal o.·L ~''''0 .kes fI.. ilt the. i.y~ :o1'ter it mo.r. from ouc h import~ttop 'ru.i)J.no. IlS it movos (}V~'!.led wlhan prices.ch impo:rt nn. Yle e kiy o..\'f be- FROM BOftOMS ~ '~fh{ln .cross.).nin of 3/4-point por month in ordo'i:' ilo kol!.o." l"~ hoe u~ .l'Pl'Lbot~ th.~ ~.ii'fJe 1otJ..h.E.e. ''ilortiec.y~ "V/ee k 0 t" mant.".t bo'htom ..ll U i ~ho'w' th~.ed the squo.Hr.l ¢::rQ~~..om.:3 tJ.e.(:.. rY 4 .l S~'0 thn. 7B~·.isos .!ti:th "oro Or tlIJH on nny cho.n.tho.h c...I· ..~ Or lnoasurO(j lI!\ol1.""iod.i~h. w.!) nappe'!.·~·A' ".·.e pe::i..~ ~'.il.n.n.c-£ Z .o.t ~.~.ngloa and l"QsistCtrl.:U~rn on "youTc~h.:: a ng:l Q. tll. .PlrfG ic 0 ns well 'fll.J..nt th. chart. you must "\coop Y9U!'" . the.c.. e uae tho l"i.sq_uC!...l.ko.$.lly :mouth:.tliI.t k up cn:d ~\nQi"o' t krU)\\. . Q~l "'0 1. .'fhe.e p~H·i(l~. third lOWGll' It ii5 very importo.ri.. Qt(:·.s rcv.~ f~" om 1. ·~n.V"(.'bhly-':'tho ~pric(l tI1i\Uit :mOV() up Or d..L..p ~ 2Jl the ill~ t.s ¥.ngl(l:>.ce". t'h@ ClUI ...es i:nd~io(. .ct·u_r~~l _OO'!.'1')..kea "bett om on..! tho importunt Oi.'ii...pca-t W1l11..:'i. ~r'i.~ .'U.l o. Thor'ed'(H·..git.. 5~.!. :in.eor tilll. . . ]. 'dhi~h mellL:.: i t ~'l . st o..:nglos.~~!t1J. hlllb.1 n"'" ~ ~ ..1l'llX'rtOOltti'tnlo eye le~ (Ire 'l"unnin@. wh:. mCl"nth and.to. Lon!.LF'. 'th~.:o... "V!..d.oo Leve Ls ...st.0. the 60th d D.:·r(). . 22i.tul1·..0 9rclo'r to get th~ ti"!fi.'d.

s corTectly~. them.a Or mono!'5. ~t· &0.on for a rnlly if the.ctly<tthero the .li. per unit oed' time.r tho t i7rnJ@ :p. ~ : If dc.Id aereas on.lS. 1::11~' t o-p • · Ap_pl·y the .l.int ii.eic m.·"nextrn'onth.€1. stock r..impo'rtant 3/oint.litcdl it. "tQ.mow vrh.'lil. -.wn at tl'. thi:.-E. the top . NOVl :in. all the cha.le 2.nc() trom the t. Qx\:. find t·ll.s checkup ru"J:!df'indo.ut if' you ha.st ~QV'I.st then be gint (In U!llibe.y 'l!o nlwuys lJ. fol' c.~ tl sbllpl@ wl:J..:rriod e. ·the .les m(i"V'C diOW'l:l -theSruTliEl J e.wn.l..l1e.Qvin..for ye' (!J.art~ 'the in bri.s enJ1.ys.v!:HULGIut und is nlOtto be c'ount. in positi.~l'li. know that you.ld be at 75 ..m.s'!.hen...rru le:rmfl.~ you.p16 .s dGC 1inilld 75 ~ points.:! dO\Iffi" You count tho first m"onthu!. undo the p.onths ho:ve bean required to.re:ro\~.ts. ..~d.nl!mingth~t the s'[Jooing i~ Que point.i'ng.iP'le. You cun count the 'llu-rn.ok 'ib6g~n on the Ne\'O' York StQ(.d. f::rom.rt.he ~mgl'Elis from the .> ¥ a.t 150.s.les Or 'ITlo'Vinc-(').'bing On.\ 'idco'T'rect it.ipo'i~t~ ~d.cK und.vm dawn.:r~ml) 10":rpQint thostimc 'pori.g·aero as ilifher thnt ~ allo\n ug. 1..~y 'thut&.otto~ and subtract it from the to p • SU'!?P() is a the Iil'ic e r'~ fer red t... bO¢~ll.d.e.c:ross on the 1/2~1'na.od. l"1r'Cl'~Tl tho.Op.1. and you start pu'lJ.al"t in. }.r'ill dl'l..e:l:01:rl.ro1:!!.t 70 . you ean al'r1ay.oQl in~ the 1S l?oints~. wee..a.0.o n:bo'!f:e.mont @cl..er~. ti. k has madill! -:bot:t om and! ady(l. ~t 0(. l a shm k hM Q!'E!C l:i.e:r '50 th~ following month.n. t.f' you had an errOr on the ch.1t 017'.l1in~ und'arth~ angle of: 2..ruh for th~ top~ 'Tn:1[! lTho'nth. ncb h&'Vll plfi¢Qd i'l: ¢or:rec-li:lyl1rt~1" an error in theang'le of' 2 x 1 be¢au$~' it i:..l.sh. lov!" of t11l.po.a 0.soh.v'e made any mi.oi! also from. order tOo pl'·ove aX{i. ti'w Q.h. aO' tromt:r.sOn be.for~ it l'toU)!_..n 't.x 1 moVing clO\!m 2 p(J.fter t.tnih.rieo of tho 3tOCk: do\'ffi 15 POitltS tloO'O..4 ~M'n'O:S is on the ~qUD. t:iJxtre-t:n.. as ons end then numb~lr u.OrL..!lve slipl?edru:td you mcy n.. po ~Ll1!. further a~'cl ine • Now.od .~ 25th mt:mtlln 'l.La.orrect.nngle wonla cr-c.>:tOQK h.Yl.oint 5} you 1Qe k 'the.g or nuC\b.onth to DF. 'bo C:bQv~ the~\.d low ohlil.rt too C. ch..d"c.top d ow:n.ys ~ WE!ofl ks 'Or r".rd Il"l~vq.1$5 to tho old or' rlo. wh~n ·thtl st 0'0 k ha.stake For 6xflm.l.\lglo of 2: x 1 l'r'olT.:n.~nt!.) liOIl I tll. If you.lieeffie.::'::(l Qpt \'th€re the spo-ed.~.Ol"l·Y th~ 'tim.tbetop.:o\'11d . t.elifrEI of a stook QD.!l.se. the. the lo.00'rG c..i::Emd findthlltyo'u Ill.tio'n '0'1' f)'om 'the date ti~ing ::inth.g four eae h t im.K or day C)'V01' to ba.oViIl.! tho top tl11. WClu1do('l i'lIl. "l'roeks Or m.Qn.~e.1on!).. 5 • ~ume as 'Uh'0 importanto. is (:·Eirr)_.. • J F() r exlhlill. th..CrOs.a.vonced. dm'm '1!.. 'i'fa:\.)_'ct'ing 800 from tho ·top :c.t thers m~y be Ai't er '1'O\.g dmmtt1.V'erage l'ine or angle would not ceme Qutooif"rectly.oin the '!JottQm'f then therno"Vin[!..t has moved.-.out:b.h· squares. TIME PERIODS FROM. v'l n" :u.on ths ill..:nIt. all the iOOlgles p.'CL'y~ho oO. "'\m. i... d. S.s fro'!.vaI'<i\ge.et the correct po~d.@ . a. c..E:i 'botto.lle indiol. f<G!w da:ys ~ a r~eeb" Or Q t'(lw· Il'ion:ths. distlll.th'e f 2. we.e yoOu ::limply ndd th.od.re~ too J:. and mJl1Ld. on 'bh~ monthly high ·rn'li. wO\ll& <. i:.e ~ mo"nthlycli.e..erQ' .£!) up 2..o th'e "b.ines.y h.G high ~ndl r1.'ekl yo!" O:nl[l. As.lacd.ght tho chfllrt ju(.ffel'~nt·.c eo.n!..as e.tUJ.pl. 'rOPS: Af'-b:):t' il .I' of you d. bG tAt 2S~OOld if the s·to·ck b~'oke O(1..om. 160. t·'Il0n YO\1.ng is d'i..lc$ ~hould .op. ec:r os 5 a. x 1 C'Oilll.ed 75 1) (jiu t:s~ ei:the'r 00. rO.(Dd.t~ p Q r :!llQ'!.f thi:. Q G.k Exononge.e lirloV'@'lIl:0nt t.a~ o.anglEl' does not Cl"OSS.acr.o nUlliibor of t~(l! periods theroare.. x 1 llnd indic a:t.s.wo. tMr(). mJI.M'l. The mo.oj!lel of 2.~ 50 ~ wh i 1 e tho 4" 5. Ii' 40 d.en.e p.:i. e o·ntin \loa r i.cv\. t:"on subtr.et·e·r'llrin'B hh. wQ\lJd be dQ.· 'limo Pe:d.elt'in~ MlI'oss:fr."!ii OIlL th.dghth inch~ IlI.r. .HllJGes extr'l:lm~ :hi~h tiuishes the upw'&:rdmo.rr'Qr' ~ndl ..in. the ds:te of inc(J!r'porc.mo:t 1e iEliigle. '\l\I'osakor d.0 mQvint U:E"one .ddi n.~tQ.awn j This i. it.ncr.ill.l'Hl's ..borQ f d e. :pj~M'~' o.:tthe 1l. . would..a'IT.eriod i'ro-m is fl"'Orn the ·extreiJu!).

om rs exce eded and.o:nt.nd bet t..l p~ 't op • Always note t. hr ee po lnt S.ha:t.edJ February 250" 190L N'WIibering the mont hs acroas .I'J. 13. raJ lyjn .May ~ 1934. be ing \14'1" JNQUS1ftJ. 8:.> the: nex t most rmpor t.~O:ill 1. because It Is the lowest bot-loom a.rI'I@ perlod n . then d i1)1 c ont. po1nt.then .ed~ t-hen t he next h iih poi ntrrade. SMl'V' rally fo.ma.t tom.ent a"croas· f iist the hi~'h in Agll 19Q1-Lhel'l tt'omth(j! extre~ hle-h in (let.. rele-cMnS" low in November 1929=~ from this low there wa.he trend turns down..e.op ins: TOops that st.'IUways draw theanrles. o.'kirlithis a secondar-y hiilherboLt.Uoffi made . and .0.t ¢'I.l!1!. on a. W!\l5 i.llo!i1ed 1.i ad.oher.0 Se'pt..lva. 0 t. he sa!liJe r ure t bJenum'oer$ ate. 1909.om the final hig-h in Sept.!OO per-iod _on anct.hat F'ebr·u. except to determine a.e mos. ld~r ~bQt.c r' om that.rket..Lng auCr'iQiS$ from nOlq._:rrt.hat.ore I"anber fr om.s r'aaehed 0111 J'IJ.19'3.orm~ from which st.rlg'le the t-ops .he last.hen c:om~ncc number tug fro~n !.1 '!Hays a. i.ant to carr-y the~ Time: Per iods ft~.t.final low of t.inF'ebruary.C:. Thenl the r:l6x:t ... 'The ext.ner act' 06 s at tops • After-t.o-un" t..ant 1. 10 or 20 y. OJ' . hign.. fig urea on t.I"'I~et. DisCCil'l!L inuet.s and nete what .henec:<:t .1929-. ocks advanced t o new hl. bot..r ~ 1907 J' t.he rooJ n .1::.. 1915~.dt.of linp·crtanee t.....ortant. 7. Inu i11[ the' iUS e of t. and n\Ul1rbel"' t. () number from a.s-p.. 1~ h(~ld 'Up ort.9 the mCiSt import..hen decHneds. 1004.1\'f'&Yg t.y ..h:'\lj appears be important.hn::e too four 'not com.om. b Qt t om err top is exceeded by t.y Or' at 'lJe.:(h 1ev e Is.g. ext. Thi::: will be' wo:rkin~ out t-he second c.cycle and beg in number .r. l"eachin~ ibott·Ofi'I in late February and! early 1 Q-5S . fr-em t.l. as lone.t. t.et. STEEL T. i1 the m':!.eiuber..om of March . months. wa. you will note t. 't.e campa. . For exa~ple.YERAQI!:S! . to' number from a.r om t net op.er bo..2.go:.checl-. Steel you would ca.1so nlll"lilber from the Ap~t Hi 193'0 j fr·Offi next . Ftotethia SO-year cycle OJ" '360 ro.nd bot t om. 1. inoe the t l.5. opsa.t.h. carry only t.~ a.he f ir·et.f:"oS$ ft'om..} U.t ilrnpo:rl!.a . POl" ~pli.t.he monthly char-t carry the numbers acr-oss from this bot. out on..M uobro'ken~ 'the' ruf..ar. On t..lw dat e of incorpor.reme high reached by a stock is always m~)'st.slow d. bot.J6f')e~ :SO Indust-r ial Aver~es reached extreme high on Septenib~r '3'1. op t ()o nUlilID'er fr om..harply in the panic.r"hedunt.Per. bOt. wlhl.he !'l!€:X't ·bot.yc:lle c.he monthly m8Murer.hh: 8aJ1'. j. then de not c..e for d 1:$ cent. f 00'[' TiJT.import.. f.'ccd but yotlsh{tuld 1.om IOOlll.he months ·6.hs ended . point is t he extrema l(fw . ~xtreme .May 14.'0 years".nc Qrporali.. The b ot t om in 1932 is the most imp. iJ1lportant l.anc:e.ny :mi nor top or..rry :t.h1~h and very Impor~W1t to t1ll!rnber from because it· was a secondar-y lop.he 'b~ar market. Hl3. wh Leh ts 0::.ember~ 1~2.. 'fh2n start a ne.nd-t.earsah~ad.~ p2l"'iod.l. 'In!'aIsM(l. t 1m: per i Dds whe n a.l. 5 Ls : 'Whe Q.nyt ep i~ or Q~ il:e-d tha. Lhe r!c.hiiS bottom j bet-t-om is: broken . 1:'he next important.. a! t e:r a.IXIS. ·and from the hl:e'lh in JlayJ 1917. lowe r t op ~ .ch was ~he' lB.r.ant to measure from.he mO$t important. is the lc.~'...reme high and between low pe Int. when top irla$ r'€:a.ary" 1931.nd 'therefore t.i. '01.e'cllne fol1~d. cll:"cle of 360°.e~ 1932t a.._t.I!llt 11 that high is cr os s.as they re nain Apply t. 1933 is next in import.of made .i. S.a. r. After ..t. bul1lU'. The Do'w.. start.[ H.. sec oDder y rally. 'bottoms woor.ay for a long time without be- . top ~t to nUmber [crom.ant is the third higher bO.!i!.nd dra1i'l the Mgles froln. any other import.a<.then fr. i5 r-eached aJ:ld t.d hottoms oom.fl rule to w~€kly and dal1ybottoi'llS and tOoPS.ation.$ f:r om import-ant" tops a.w of 211 ill 8ctobe.irnpor'tan't.e.ri .he number of monlhs b~tween.ally to April... inS' crossed cycle 3 .t you . but. e$labU.

....~ ~. -....:.~_ --H-'-"'..-~++.-.."F4'--I-+-~i-+-+-I _] .~~.-.._ -r--~-' _b:.J -.. .· .. . .-. rl-~~! - i I Ii -If-.~f-. -1-1hl~I:--I...- 1 .u ...-~-. .·"-F··:~ [~.L. _:1-1-1-' .~~. ~... ~1·.F-~l~: . ·~b-I~d"-'~k!-:: _. ._... . :-+. -1. .-_.IF--1-11-i--1'--1--'1" ...JII~ -1-1._ I~I'-I---I-·I~I._... .. ~ I~ . :"': .-':_-:-I~-~=~-~I---_...:-I~I= I..-.1-..c~~f':-'If=~' IL.I.~':~"..--I .~ I-H-1-. :". If'-· 131. '" ._ -./ I II I I I 1 II ' I i 1 I II I i I IT] I I i I I ...I .-..I"" . .: ._J I II 11 II-.~·. -" ..J:~ __1 I._.f-. -I .-'. ±' ~~ - ~I_: . I I· " .-_. _.. • ~-14 ~ '-l: -.f-I-.:bdl. . 1== _ I..-_.-~A I --..•._..i~!-JJ::.

op of t.ng more than 12 po int.IDp. of t-he 45.. th€: i.cl: ivlcl(!l t.ld be itP...s tr. tnen when 'W'esee the st. You can alao use th~ . il y char-t ~ 10'Q1\ at 'the Wie'e lyh igh and low char t and monthly high ·a.on. hut f'rom u. and ~s oni!'.r sE!v...Price w··t. moving' li. f"'ia! ke ~ 'C crr-ee t.sor rlil'11!.5° angle reaches the t. x 1 to 'the r ig'ht. t.. it made f wh tc h would be mOISt .nd low char k aoo see if the ·~lft·ock is ln a.1ce many t in:es . nmins .roadie 1ii{hile it wa.> which wou.ply~h~ sq uar i.rllSe again..nge' and no'tgoifii higher I \-Ie move the 15° atlgle back to the bottom.ong pes it i on and has yet to run out.t ing of .. 'iIi'~.on.!bHl.evera.er the 'ib. da.er eccurscy. bott om and cont .Qf t hi s range on t.umeleve-la. inue uptrend and r'emain m a strong poo. sLr.ng-averatge. 'the squa.er of points up or down ba'l.• .p 24. and the o ..This nade ..for $. has to react and 'then recover a pos iti. .he a1'Tl8"les w.pW"tant for enot.mpQn~.·he up side. it.og·et.ys..t':i.. then H· is out it s square on t ll€i: h€:ar s Ids of '!:.ak: ing 'the bottOOl! We st.ntsl. w&t.eclwa.ock is holdi.i.. You will find t.of t be most.t must cent.hen !iBOV iog t.. bottom . of t per reds •.. .Dw' llil:vele or new his-.0. t.tom of 4.as 1Qne:-a8 the weekly aM monthly point up. iT.1gdeclines or bft~ advances aret he squaring out of major til1". and valuable discoveries if youst it.ck svr ictly t 0 tb~ ru!e.h Time ~ans as equal nI.1"' t-ime fericds--~it.he:r days.rend at t.!:!Ll'll~ RANG!L.. cha.8 and move it up to the "t"op of the range to 60.. Now suppcae a stock.ne' time per loos. .t U.ha.he to]) of too ra.C I:.her chanie in t..r. .in S'f""e.oek finally moves ou:t.k€t ]josit.rend of t.:e.it1 .ng out ofrni n.$ is shown f.you w. he st ock is resting on a 45° angle~Tld you should.re at '1.ng t.!.h6:4.1nm. When you a:r.E'i·tt :l..€!.at.itlri Price.i. e i t"i1. watch fot" an inrport. that:.r"€'a. her-e 1.ltngJL@s f 8..ltt ion.toIll and not br. j.: in t.lml· perIeds and la1.hls point.t.nJe~ T1l.1f!12J' where aran15e· of 12 point. t..he 45° atle-1.0 t.nt into new hi~E-~~ or from any import·ant.~e in t.e.::J rarlf{'e. st-ock h.lens ar-e s.ng:l~ from the bot. mue t o advance and keep abOVE! tM angle of 45.ys watch when TlIDS and Pr ice C~:·h$. because on a daily ehar t.. then back 1.s in the range JE!:S pee lally the last bat tort'! that.'llge. 1o. i..eral IfOCInthf>. Refer vo For-IT.lvertf.. For example: If a at ock he.h levels.i.ant.se..• ~.dvanced 24 poi.endwilth in COITJt that.hebot. If it break3 back under th rs ang Ie .he point.r'ts.ndt.or the bol.p or down over this range until the.crr t.ey aga.hen t.~!.1Oviin~ Up or dO'ilitl in this ra.l'" mjor or minor.'Porn 4.oct.e or movi.ch when this angle is broken or when Ti~ is squared out ~ain w. 'dh~re the st. 1 huveevera stoe·1-::~fhen Pr ice be: abIe to' is squared by l' lillie ~or (.. 1.oint per day" the t 1rfilng litl.l!.l"s out into new l.hh{ ranse ..t.i.t every 1..o equa.ancLng an equal number 0. l. ock a. If a st.. chang'l.ot.:1ine up at the rate of one p. ilOOt. i.nue on up again.ould begin at the n~w' and hi~hei bot-tall") and move up.a. ICa Sl.import an tj you shoutd then beg in en .p':l.he st eek.0 angle..n€: left as t.'h.$ ~'om::: important.he T1I1'1£)Period: into t..n1.o:rtant t.hisra.ing o~t 'time: on a de.s up from t. and are of SOWle value. 1 t. s pI'.he 45° aLngl~ and kn .her> .8 l'OW to 60 high.:l.art the 450 .ang 1e at.rend .ock is t o cent. 8 quar Lng it. weeks orrnonths. he s.ore-cast.l weekso.@ or time: pe r i odend the pr ic e of t hE! st.Qm of tl:1.e 8·quar.~t:d .a.a 'In!ea.

lwo.i..re5.0 TlLuii'iloGr 0 it' po i n't S from..['i.jlll9s u:p 10 r d. Hovteve:r > this does s.fim..)1.0pe<rioot\.1N'lced..-'Il.t t i. 195:3 ~Do!J ombel" 16.or tops :!'md! b01:. I.:.~nc·es. to d5.Q.m:'TRB1l:1Jl: HI'GEI: PRIOB~ The Qth(i:·r im.h. as erlr.~:e is 26 Iioin:ts.:> ..ys look up th~ tim'" .::rs~weeks or mrt~th..l.g.The rnn.import !mt.nd tU. watch . top ~ soe h.o. $1.htbe . .f U !l'toc'k is 50~~h'aln"/hl¥n it 'has mo-v·c.U time p(i)iriod~ they oS'quare out.l. the· f'o\lirth sq~"a. wtth.l th~lPri¢ein.ra. . 2.Ollf it.5th~ third ~HJ.qt:l.i. t·lf'ood ns 'bas EHlOn its 'bottom or lQw€:s't sellinG pr-i'ca.h~t is.".~. 1/2~ 3)4~ bU:1.v:h..rin.ed.\ to us e this tim.YBi ~ 5'0 IN\tlel~~. ago.in 'the .ng g'\l'illolored o'ut from o.:'~h~to.odbef·ol"'Cl.~n.e 'bottom of a st O~ k i $ 25 ~ then at t.:t.h.E!<d1v.ge.r.~C1I th.inu~s to M.nj. Those s(]:l. Look .u~~t1:yonth. Most t.~h .l"1opositi.a.~ed ::i.mne rWlge.a.poriodi" ond the ang:lo:$f:r-om 1.·hed for" D. it :.'Ql![lart~nt of I.~ 'Tim. ~tock. out: 11.:re::.I.ei:Etlly when the st'OCK: r~Hl.r. -Contit1J:'loI.6 pofJriod us long u.~thG erlra:me hi..ou.@:t !'1~ioot9 . $'0o¢k rt. If the.. '11X. of' i).t of.th.ro ~ and. A:':i lonf.. this [poTioQ o!'.eIl'l!t~ 'hi~h n:i~ ('lInd woO:rk O!!Jru youh.)nthi.gh o.h and~J:'i!:)md' lrO'w can b'G! S~Ufi.s tirn.~ as tho I.LUy or l"ti'@t.g 'C3Vel')"ti~e.thly. t.U t:> the .t.c.eacnlldi. iGh~ Daily Ghw-twh!. 5qll:£!!'ring.l.(i).~:ss:. .-'ll. it !!lqull).e for 'rnI:E!tI:'lY' y~urs • SQUilIilNG '!']J.Md@.mr.tatc~ing ' t.::ho 8~Uar(9 of' th@ top prioe in ~imeiI'Li"t:>t be n.x days '(."tcn .'0 h.. r~.c.t: th~ dail:y~ weekly or mr.! r'tlng.yiln]?D rtnnt d~ c 1 iil'i@' • FOl'~xarn:pla. Prie$ a1!"0IE:.~ .Sl..~Yl.]\Il.ro th.c~ period 91: 3. 'Thet'.l?..determ:i. hil\\. ri~.(!.e opIf thoo·illo..kly c-huts. in wh.)IIlO low poindt. ah'fElLys use this tilll.lo'i!:l!.. period" notin.t. :1:tmig.a:.rioda liko l/4:! 1/3.v.l' i!lllH)rtr:'.d 01" 25 d:.~o. 0.ys inthG . you can.o oxl>r. out of t.f't'till' it h.i.tl.~ d!.ttOltL as 'rn1)my as? Or :9 tim~s. the m~ k4't pll.e se sq U:e.poointon th(jl mon.i.~:. ~. 'tr. :posito3J d:it'Gction.Yn.lirto.ndd by the position of: th~.:jqUo.dowr.3 SQTJlffiIHG. up or' .e ::l'~ d(tt ~s: '1111ld.o!I..nt 1tr1PQrtMl.'!:J:d.~to the 1>Cltt.~d ~t'().ly hi~h . find wut. on O('.iB 'inTHBOT'1'OM on EX.he chnr't and netre how the..cinand . 19.sov~th rnd ninth s~. price 'of e. '.a. 1"0'1' ~A:(lIDple: I~di.t imucOJ..a.eil!'l:e.r :3 ~ 1929 \'fo'~ld :r~. 2 'the next iJ~por-t. Watch..a.@ the> RU'O.ic. Po\"'~~e~ Bothmtl. 'i{'h Q:!'!.5 weeks or 25 months.ru:st ~ long t:Lm~ p'(ilri.fil'r'e..~~.lt bef'ol'c ttl :squ:a:t~di n'bo..oQ k u'p t h.)~r eme hi gh po in twi th ')!"~mo.n.tl.wi'th 'l':imo.l WIl:li: c had..a:nd ".hG elTJ. t: he f...'g. stock i$in a.g. 'lUiJf'rO". 1 ~..f<n. UQ'\I'f:I. Or' 50 lTho'nt.n Sept@iIltbe.onthly.ys "bo.. h >:.e.l.iok ctJ.t:md low chart _ This miRy be Very :r. 'l.Qd.0 ·eg_ue.l!. bottom Oll" atop. 1l1'3~o.the !i!:GCOOO or 'thir-d sq'~>l"r$ 'l'I11. ous bottom nnd . e-xtl".aUb 'i'(h.on..j" price into n equ. l'ime period musttecar..t'~ 'rime 'l't'ithi..: most the mQs..llTh~ 1~wric6 l'ffi:'l!ie.arO:$only OOI. rE!in.£" 'th.ses ~ ".o'm'ld .ng acr-os£t'!.ome"times happ~n when 0.'t:n(')G do"l'ol'Tl !lX. rolfj l!3:S.rO'u1o.ld:.~ inmostc.i'ii.you will s (J e that ir:npor-ta:nt chc.s it sta.: sae o. low point~.hs J it h.r fr'EH~.a..n~o~ )X~ tT'ond oQcu:rr~.WfJ C un.."'1..:..!!.rad =50 long as it remains in tho.tr.ib'"'I" 25.s:e D'i.t a stock !J~~ke$ bet'e'leen.~:m :rQtlar$ a.rr.p-~I('l. angloa frQm top andooutom..nt change is ind.. fhi~ ()CC'll.nd br~ !ilk:!. 'Jl"l'MB Wlm 'TO)? Ol'l..h.n NO'VGmbe:r 4" 1932.c.r.oo. es}?e.jor ahd min.ht o.::r@!> a. If th6 top .:rkot is uoo.~ square in Time ff!ld '{l.lendO. The.s ..orn tl.Qms 9lJ !:l. i'tP!lS5 e s out of the $gual~es.1"!t"ed on Slllpil~mb~r 2$~ 19'30. the t r emd Cll.d A"Ve:r~ges~h~ high of.. 14 ~ JL951. on.o nndi."t::o.d QY~.l.q1lJi.'l.01::6(1. :it l''LlB '0ut..hol.ndc.i.ys~. Cnanm~ill t:.O\!m....S f:t"9mt1'l.t.al time 'Pc.latiou: i. at' iJi'!'!. i. the p:riC'c Qf sss .da the points~ P~ic··(.quil"e ~at: c@. trend ch. Thi s C&U DC .rot:.of 'its tiltLfJ y.50 do.tOOeI'.me • '1'hQ:!4.o oqti~l~ ' audw()...f.~.'a change 'i.~ st'oc!le c()'Ut. move outo£ a. ran.i.qua:res with 25 periMs Of T'ima~ de.I. 3 q\1i.!.s.t ' ('. and.~ 1.ti'l1'1ling thoa t:iJi!lIil.. lcrwt go I 0xtrC'l'ff[l:O h.TREMITl 1O\':/" PBICE: .portant point to:5. J nIm a:ry G~ 19::55.che. s8:U!lLre ~'I'":itl:il 'Time is th~ J!_owe$t pdc{!: or-bottom.

e 4. you would mike up a wee..a. w~ekly or .s on the 45° angle it 1.hese important Res. ock has: r·~·Si.s.n extremelY weak pOSil.t the top of a bun . Iorks down.C ned the .:!e p a squa.e. ow.er . 1008" etc.he stock st.h~ changes in trend.!!l"'th" 26 we.opoi:nts on time~ and t.ould indicat. put on a squar. You can take t.::s.. and 3S1w~ek6 or thr... the 4.:j:I!. <.:1t r-est.again.y.1 60 .h.ion be-cause l. if :"1"01.heref or e the s.me WhY has DOt.o SO.o:iof Lima. it. will help. when .m the't.r iods from a b'o1.. It. l.nc~ Levels or . peri.ill. rest on the 45° a.01.-.hly chart iLw~lve months completes a.tll\portant when angl~$are hroken on ~he roonthly and w€'ekb char-ts" . 9. his-her lev€r1 .450 e:tligle~ if it is selling at.. When a stock breaks und.: If l.. 8S top of t he squa:r-e.he 4500 a:ngle th:.orking a in the 'IiJe'e'kly square Cif 52. Tirr.e.D'onu t f.ar-ound these tin:teperlods.thllim chart.ock.ear I: 'i. he st.he st.. it will 'be w.quare of 12 is very ..s above 50.th~r hand .148.lld.hewe.. t Levels 0:11 pri. In Price.You.. QC k cross e 6.e i a big decline '1.e of 52 by 52" and.glee and w. 5° al'!lg'lc1 Beeeuse whe ri t.l¥e.ock act.me and PI"'lee 1S 5.yfrom t.l.:5 o ane Ie the firs t.he base or bohor1l~ it is most important. which take place when the stock reachee t...a. '12~ . be T irne and Spa.c.s most i. is SO far a'm~.t. Ther ef'or-e you call mal.kly square 52 points down frQ.ches these important Resistance point .ve an edvance for a short. a .a by :5. il'liil:! per lods -0:11 t hemo:!n'thlyc hart.tes o!any stock in this $ioi... tollows .~rnportant for \\I'or itlj? ou!t t.$ b<t'e. 36. y.iGnl r~st. Man.. As 1011'S: s t.1'! mon1.hen the 'loOp of this wee·~~lY square would be 52: added 't. an. nO'Ling 24.1. ar~M". on the 450 .. Rever se this: .h.. u Ie at the end of a bear 'campal8'TI.ance Level •.8 at a time when t.squar-e of d k stance in f ime.a. s cnar-t1 $.which places !it :in . t:hen havt': a prolQtig'. 'The k square of 12 is· 1M and il1iporta~nt changes oft@110CCUl' on ... ThereforeJ.n:thly then ha.iil1le' a stock brea}. •.run out W ()'\I'e'Ir"c. and move.a strong aJ1ftle and a natural Res is t.a in.iu'lIce.: next ti~ ..r. and rest.hepa.he even 1:8ls. t/hen Iat.h€:p brll:1ak t. 135 on the 135th mo:nt. t 1m lit.. F~t on all u ·of 'tM angle:s from I~OIl .:mpl.psedi S Ince t·ne 5tock made 10'1'i'.~d M.rno.'_.n.a.eck.fide and 5211iB'h.':'G:.Hgles when It.gks or one-half~. Watch how t.he 45° aJij8''1e on the daily. . It. _ 'On.mar]\~t.:' pori.on.M"th:..rend.e l 40 svocks often cross t..:tstance Point.. i.roe't:r'C~l ru. At the t. st-udythe movement ~ not ing 13 we~ks Dr one-fo'l.~r top of' a et.The year' contains 52 w.even 12 months I pe..vance· •.st moveilfteint.2.a. ()ir 'e~~..of any st.ce balMc ing at. change ttl t.t.ock ~ re 5.orget. on. react.1 use the Resista'nea..a.. em ~t aga.kln.g-eo.~klY hlgliand 1. R. and then aOv?n:e~ to . if the st-ock makes top and .i.ilT)<€:s a stock w.es ist.c~s of t.ee-fol.0 f ol~ l...t.ngl~ in the early stages of an . which roakes 102.~r th~ 4501 SJlgJ_e a lotJg~dls~a:ncra from t.6. greaterad!1anc.he s t.'In~ and the square of this in T:i.y·erse this rulee. 'l'hl. On tOne' o.rt. declineatnd rest on t.!I . You would watch fClt .~!}he squar-e of Time w'it.e a:nd Price: . the: secoooary rea.s Up. Re.. on.swol..et.t~. :After that .0 :getthe t i!l':ep~rr iOO: .g a doubly ~t!"Oril£l' Resistance Lev.e of 52 ".:h Priee. rea.84.op and sa over 1:..fle 10'W pr tee of ast.adv.. t.s 00.he base and so much time ha~ ~ l~.

5. 22.portlH.f 225{) is laC) f~Qm 45 o:n.'.l:(..il5 VLp townra ~O:o..](I..This I\CCQunts f'.'l 4.k 'tho. the f'irs't iiTlport~t c r ce s ..nd broo. h~¥e ilillpOI"t~t :mao"U'os .o T.A~..¢.lGI.rc totfi.r. ~cl.$ st i'cn:\~G:r tnM S7~O ~ bee o"Use it is 778 'of 90 .lly strong :for 0.cn equn.i.(::.l~ e rn.10Ejif'ot'e 90 i ~. whioh ill lis o. strc.top. COi'.l'i. \~ll.o pri. Oh. ha. shti. i.:..5.i.'ndmncko a slightly highor top .impot'tr-.:!Hll 1/2.cot:l..sUgh'hly lowor to]Js. bee !l. v'ol'Ume.. 3 12.'1.:BS l:i'OR M'ElISURING'!'IMEJl. 240.[:q~.o..gth? M:.d ~lHl.50 W1."rQm'<mt? Bec""us~ W6 divide $1 into lP.l'.iSO 'it :til 10.C k '0'!'\)'C l..s ['\]).ng:ost <In. 14300 i~ 90 p11l.en. it is inopp. h oquQ. i.e h l:l c1.lo lOrn1.[l.d lilak.t is.5° ilngl!.S • The M.. What 1ll1g1as are.. tho 90° rmg.O!" stodcs tho.~ 1/4.l\'i.'.:).ngla tho or .o:s:t ('.-tstrotlgQ$i.2'70.'Q't&bM'k 'toO tho boginnin~ pOiTht i:1ind i. '27'0° IJ.sib~.lo to tho SOo o. bottoms nl"QW1d the 78th to 80th dlny. bdin~ SOo:rr.:ro "f"l)ry lm.s $.h oir.glQ ~ftQT 2c'i01 It is 360°.1Q.rong..d:!!!ho drclo t nt:Ld G.i. Ii) m~fl.l 1800 1lll1d.hcy o'to:::"CQmo tho .. especie. Bcc::ulso.:up .n..0 pli!l.1Q~. io: 100 plus l/S Or 60 .. ('.1.ol' t.tro.lG o.se tt oD.no -. us the Cart'li n till Gro s .'01l'lP".hCl'M@. Y\'hy istho:'i ElS 22#0 " rL.11. :S:T'B.5" 2260 w'li.7 8~o 1.i.. 90 dog~'co c. strong t5. nne! ./3 ot the oirolG.s oppo:sito.mc ~~ 1~ .t :ii..imok:!3.iGht J'uIGLE ~ 'I'\!11c. aLoolin.mrk ovcr\Xl:1ltil t.om the 90° rmglo.str.c. th~ nngle of 6'1~.d spac@ er priel.U~C e.05 Q'f: . >1'001<: 01" month. 180 I 270" and MOfo:rm.t." 'boo .in. I110nths cquc. !'I'hnt is the ne:ll._.Y~m.rp ~ q'j..u.1but don t t 'oV'orlook 84 months Oil" 7 yenor's J' eo. is 0 l' ~S.o follOl'fs. 1'3. 0'1' '\Nllumo .".l'fl ~ b.ll.N'GLES 'measurements 45" 135°' .o a i1:: ion to 90 ~ Qr 18.''t:i''''Gly hig'~ hr'ifolr-. p:n.~2.:.f~$t.r~ 1/5 and 2.Ai'. ·t :itriQ .1 s 0 t lISe t o! cir¢..10 (If 221io a. !)l'llIBION OF $1: lie-POINTS Vib:y 0.s:nt ~:rOS$ ~ .ents 01" t iIRe...t Nl.l30 .d the or '00.s 1/2 of the circ:lc...oxt £trCl'l'. The m'l"g. 1800 or tho.22..~tl:' O'Qgo~t to SO. !prill e ~ and.Q.!lY s.o SOO 6nglo. 180 .l-O 0.I@oi'1$1.)" and.l)l. S 15 for -tn~ next i:Tm:pOl'1.? d.nd then Qd. .r.J.lit ..Lt i"Q. 180 rl"Orn..t c.oniffest tl.m{) than ll~Q? Bec auao it is 't'i'rJ.:.Qtrom.~! Il.l.s? -3150: ~:r tw.. nn~le of 5150 is CfoltDIU..ti.us·o.:.Slol of 0.fi C.1.lf-'l'!'O.1.o.. J.ND 'Why is tho. ~ 2zi.'ho 'l':op ::. a:n~le. 2:40 !l.Q" thon [l...AND 240'0..i:l.e. 270.~..nQ 3l5~ angle.1TI1?O rt o. nh i¢.o vl'C!t.if:i th.lo 1 'Tho 2100 e:nGl.1O.• thQ :strou6ost point.>fu_ichi. F'I X!3!) enos (3 : &: T'lH~' tlll.ch~ b!illin~ th6 reason..Y p'oin:t.' 90. th~reJ~.".z.rc Ic ..ce that -n 45° engle is s't:rOncg0l' thru:l. t i"91' i..).trem. next in .~.o.]. 4.'70. r e th~ Oln!1.th'!.O. it is . 9r 'l.'t"o.le ~ bec uus e it is ~ plus lnO~ t::.(f. knQ!o'm..QO .> ~d..co.NGLE: YlJ.e Fi:lulld Cr03.s@ st. 1&0h od --i. orl n .k@$ the...gl P:.~c ~\i.• which I1Ul. stro.l.ONG~S'T .:O is l~timo::i 45..or'e quit~ s'trong When onyt'hing is mO'Vi. tb.00 frQoli!.t::.isknCNfll O.TGLE: l111nt is th.nit e 't~!Iu.1e.J.WO:r: t15? nnf!.' rt!:[:. 10. t'he·l·ofo::re QUO tlll~ .'P'UICB.t~~::TC'. bec ause it is 46 'fro].ng10 to tho HlOo ootg. 1.st pOin.&lo? Tho 1800 flnglo b~IG..ron:G..t. 'f'/b. tho 'llL~xt .5. ~ which is 1/2 of 45.1 'iOocti.t h::::'VID0. Th@se ang Les c.les of 90.L" thE:! iIT.ls 1/2 of the oi.l\u~O it is s..rlg.:1.~.c.sq'lJ.orn 501'5. rold 360Q? 0 ('Ulgles > "bGoausethey AIl$\<tO~: 120°mliJ!.s..ls 22~ 350c.:l.@l" SCl. imo N1.

35Q .li590c ~ 5'7t .al. thiEl.rt QI' 12* conts in 0.nt:oOOi. l2'~' c@nt '!."lgb Or 5/e point . 7/0.l1s at 50 'On grM of it.I{).'J!' t5~. Yo):" ell:.la· 'olosor to out these to Fit..loseJ' to th''i.s holdin~ r-J.YOi:i.d.oUal$ 180°' ~ S2:~!i)~l. 'Pric 0' 'Of 37.. on lin 'rh~.h2'2J)O ~ 15 oqu. f::."tha simlplo ro.(: age 'Il~ hud. -7//1 --.lice ~iS .m.0-- On ]'. ~ .guY'e~.the bt'.onglo..timo I 'but the"..y w :PQint~ ut 26..e. SiB..1s 2'700 f :82i~' Qiqu. d. chl[!J.. figure.re"m·on·t .se i'i. u stock se.18 1.:J.ngJl.ls360o.1.(l.o.J~t com..I.I'Si :Di:\l~t!J. . 3/4.'i'tdci. t.\lQ 1/87 114.s 315O'~.nting~in. e.·it!.k IH" m.onth.ti'On:i1 Un.!.s c 10 3 e""t to 5 :it-hl th.::38 ttbov~ the '156'0 en~le or 'th.1ls «e seo".roo.CH1Chod 200z it OCiluo"llod :2 ciFclr.E)quc. lIB ~r·opoTti'on. WQ 'i"l.:it :::.nndoqu:.o. $100. .v. stock fluctuo.he st:roll1!. prl. :!f'0l" :.d hit th(1)o ~n@. Vi .s timl!l .ls 1350' I 50 i@.~les of tim!!) thffO 1/5 Ox..0. Stoo'1 'ii!. orpO-l'j M .sprico in.:h st€.:H.~:"'mple: filhGn.0" which podti'Qn~ :>ftoW'odtho.)/1/1\.(l.:"lhi 10 "t!..mil.. 1915" Q.tJ lS0th dey.• 3/8.. m. th. 12~ @qul:!.strong of S'7~. which is ·olo.:). s "1all as "t:i:mewill 'i'loT'k f'ir.\ll.r e st th~ ~2500 o.1£ do llll:t ..~fo:r'?~ EiZlY prico m~M). When StrcJ(!)l :r..the whio..1!" c1flhi~·h1$ :3/8 .o Q}.::.l(1.:.2/':' points .li!l. uIl." h0...brua.ure~ whQIt chc~n~..r'Eil(~s~. !:..OQ ~G Q{)l'l't~ Orono ~UUl·t'Ol· r ·6'0 oon"l.¢ 1 we..ett.of' 100 .lf .lS 14 y~Hlrj Or 'UlS ~llo.: ·b~hi1"l.lTIGY are thorour qUff. it is on th'fl 0.h of 135.ird 100 0 rnetl. roost i'lllp'OT'tcnt.® il'luotuo. VlO do 'IlS(l thE} liS f.r(1'Je/VI/YY.t'.Q...to).. of iul\.)..ut c.dv(wlcod to 261-i • it ~'(n.u:'r~$ of our b. l.g'1c nftor it Gl"o3sod.od.•.ing these d pric·e!.jon.1. Ol!ld 100 ~"1lua.se:3tto~.s1j.·"Y.:.r. '[>:e .e o.oa't f. 10'1').cQ~. i))1..a. j .. '(~hen:l..gh.~"i..()g. :8to~ 1 rn(\d~11 hm at '~B. f7~.:: it. v. s .o. 1/2. r1 t. 0)" 1eOQ flllI.a.:ry1~ 1915 z ij. .ls 46° ~ 25 $.rtc!'s. i.q'~o.ntns ol:u on l"ob..t tl:. ·.m.if::.tions ~ll):.~b.toclli:..11 cdolll£~tions.

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