MDA - Market Direction Analysis Message Board

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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: HairBall who wrote (24313)	8/31/1999 10:47:00 PM
From: HairBall	Read Replies (3) of 99985

To All: Well, I am not sure if I want to stick my neck out alone on this one...<gg> My limited experience (what I have learned from the folks on this thread) is telling me I am looking at several "end of day" candles that portend reversal. Somebody help me out on this...Donald! In addition, many of the major indices found support today, at significant support areas, some major. Also, the TYX ran up and found resistance today at the previous support line contained within the rising wedge formation. I mentioned this earlier today on this thread. This can bee seen via the QChart TYX Chart uploaded and linked Sunday on my I-35 Road Kill page at: homestead.com Now couple the above with the fact that many of the Indice's 60-Min Interval Charts reveal a stochastic that is rolling up and out of a extreme oversold condition leads me to believe a "short-term" bottom is in. Now, the "big boys" may throw a head fake out their in the AM, but I think the Market moves up from here at least intraday and probably more. However, I still need some confirmation from someone regarding the candle read. 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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