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 679.68

+0.7%

Nov 26 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: HairBall who wrote (21719)	8/2/1999 8:57:00 AM
From: HairBall	Read Replies (1) of 99985

To All: Once again I am having phone line problems. I have been unable to access data this weekend. I have also had trouble uploading as well. I expect the phone company repairman today. I guess replacing a piece of my own equipment was just to easy of a solution to my problems last week. Hopefully I will be back to 100% by this evening and I can do my updates. I am sorry I was unable to update my charts or chart breakdown this weekend as I was expecting it to be an important one. I will just leave this quick note, hopefully I will be able to update this evening at the latest. Most of the major Indices I follow have been in rising wedge formations. Some over shot the upper trend line with the last push up. I expected a move back to the lower trend lines and then one last push to the upper trend line before a more significant decline would start. However, several Indices have broken their lower trend line over the last few trading days and some key indices have dropped slightly below as well. Since there was an overshoot to the upside there may well have been an overshoot to the downside of the trend lines. However, I would recommend caution at this time. Many Indices should be poised just above key support areas and the resolution to these formations "can" be a sideways trading range, but most often a significant retrace is the resolution. Be sure and have stop loss position in place and use them if triggered…no matter what you Market expectations. I am hesitant to say much more before I have the opportunity to do a complete analysis. Chart formations are not 100%. Good trading all... 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.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next