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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

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Nov 21 4:00 PM EST

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To: donald sew who wrote (19844)	7/11/1999 10:04:00 AM
From: HairBall	Read Replies (1) of 99985

Donald: I took a look at your update…symmetrical triangles can be either bullish or bearish and have no predisposition to be either. The slant is determined by the move (the trend) into the base (starting point) of the triangle, per my years of experience! Since you did not give any parameters for the triangles other than the time interval, I used my own observances. All of the triangles via both 60-min and or 30-min interval charts were formed from a bullish trend. That would make them bullish triangles. Of course, chart formations are NOT 100% and the shorter-term the formation the less reliable. If these formations break down (negate), that would portend more of a retrace/correction than expected. Since you have class sell signals in the works, again...these intraday formations will be important to watch, coupled with both eyes on the support areas I pointed out in my update last Monday. I will add more to this in my update tonight on the BWDIK page. Regards, LG Disclaimer: The above is my opinion only and I reserve the right to be wrong. Do not base any investment decision solely on anyone person's views or analysis. Do your own research and take responsibility for your investment decisions.

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