MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.17

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Dec 11 4:00 PM EST

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To: sean sanders who wrote (4781)	1/27/1999 11:35:00 PM
From: HairBall	of 99985

sean sanders: Thanks for your contribution. That H&S pattern you point out in your chart, has not gone unnoticed on this thread. It has been discussed earlier. Also, the H&S pattern to its left that proceeded it. That H&S pattern needs to drop down to say approximately the 200 day SMA area to complete. At least that is what I expected, after the bearish flag helped resolve the second shoulder. Of course, a lot of support found in the 50 day SMA area. However, H&S patterns are the least reliable of the patterns I recognize! Heck, I kind of expect a third one to form to the right of the one you point out, but a little lower on the price scale, say mirrored over from the one of the left...<g> BWDIK Regards, LG

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