MDA - Market Direction Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.38

+0.1%

Nov 12 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: HairBall who wrote (18518)	6/24/1999 9:09:00 PM
From: bearshark	Read Replies (1) of 99985

LG: I believe we are in a situation that is similar to the one that existed on 3/1/99. There is a valid symmetrical triangle on the INDU (using Edwards and Magee) and my analysis shows a great deal of energy being stored for a strong move up. However, to move up we need increased volume at the initial stages of the move up. I am looking for around 130 million NYSE shares in the first half-hour of trading on the move up. Additionally, the first day of trading must be over 825 million NYSE shares. If that occurs, we should have an up-move from 500 to 1,000 or more INDU points. My timeframe is within four trading days. (It is a coincidence that my timeframe overlaps the FOMC meeting.) If there is no volume on the rally, then it is a fake again and the rally will fail. I have no plans to set positions until I see the volume I want. Everything depends on the volume which will confirm that the big money is committing to the rally.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next