MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

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To: HairBall who wrote (28978)	10/10/1999 8:18:00 PM
From: Challo Jeregy	Read Replies (1) of 99985

LG, thank you for taking the time to put up those charts and I am flattered that you woke up in the middle of the night and thought about me.<ggg> However, your comments pretty much say it all . . . Ascending Triangle often moves in the direction of the trend but* can be a reversing formation.* Rising Wedge formations . . . could* be considered a fanning out topping formation or could be viewed as a consolidation pattern forming a foundation for the next move up.* COMPX Weekly Semi-log Chart: Reveals a move above the upper trend line of a multi-year rising trading channel around the first of the year. This displays a dynamic increase in upside momentum and could be viewed as a blow off top in progress or a new even stronger phase to the bull market. The bottom line is, *no one knows* what this market is doing!!! And your last stmt, "Obviously additional indicators are needed to help discern in some cases what the formations are revealing" is why we are all here. I wish we could find someone with a crystal ball to join our thread. I'd pay him. <VBG> btw - thought I'd post a couple of interesting articles . . . biz.yahoo.com latimes.com

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