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10/2/98   FANNIE MAE  (FNM)                                                             Points to Watch: Technicals weakening. Head and shoulders top forming (1,2,3 on chart). Strong negative divergences shown by weekly RSI and Money Flow since left shoulder in late March. Lower successive peaks in OBV as left shoulder, head, and right shoulder occurred.  Today's close below Gann support which had held since October 1997.  Fibonacci support exists at 62 5/1. Aggressive traders may short below 62 for move down to 55. More conservative traders should wait for move up in long term interest rates before acting.  Place stop at 66.

 

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