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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 687.72

+0.7%

Jan 5 4:00 PM EST

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To: HairBall who wrote (38103)	1/26/2000 3:07:00 PM
From: HairBall	of 99985

The following chart reveals the rising support line off the Nov 17 low and how it offered resistance. (Rising Gray Line) It also shows the boundary of the previous gap up on Dec 28-29. (Horizontal Gray Line) Also note the bearish rectangle formation. (Dark Blue) My QChart QCOM 5-Minute Intraday Semi-Log Chart marketdirectionanalysis.homestead.com ------------------------------------------------- My QChart Trend Lines Green lines are resistance trend lines or resistance horizontal price action areas. Red lines are supportive trend lines or supportive horizontal price action areas. Gray lines are either resistance trend lines, resistance price action areas, supportive trend lines or supportive price action areas that have been broken. They can now act as either support or resistance depending on price action. Dark blue lines are formation lines. Light blue lines are previous formations. ------------------------------------------------- Retest of today's low looks like it may be on the menu... EDIT: A lot of phantom bids/asks today on QCOM, can someone say manipulation... Regards, LG

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