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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 672.07-1.7%4:00 PM EST
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To: donald sew who wrote (16263)6/7/1999 2:48:00 PM
From: Chip McVickar  Read Replies (1) of 99985
 
Hello Donald,

The pitchfork work suggests that 2540 on the Nas is easily possible and would be a difficult area to get above. Draw a flat support-resistance line backwards from 2540 and I see a lot of activity. But if this middle tine is crossed 2570 is a possibility, but hard to take seriously.....after looking at the rise from last October.

If I were trading the NAS.....I'd be watching 2540 very carefully to see where it goes?

Thanks for the Bear Flag chart notes....

Chip
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