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Strategies & Market Trends : MDA - Market Direction Analysis

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To: GROUND ZERO™ who wrote (32283)	11/5/1999 7:32:00 AM
From: bearshark	Read Replies (2) of 99985

GZ: A few notes ago you posted something about an initial move, a lull, and a resumption of the move. That is a nice verbal description of a pennant--something you like. Here are the charts. The first is the NYSE. beta.iqc.com I checked the volume on the formation and it is generally correct. The volume declined (from over 1 billion) as we formed the pennant. What is also nice about this formation is the Dow Theory move. We had the normal three legs down with two corrective actions. This trend was broken by the recent move. Notice the RSI hugging 50 and turning up. Here is the SPX. Same pattern. beta.iqc.com Here is the new INDU (or SPINDU--part SPX, part INDU) with a flag pattern. beta.iqc.com I suppose these have been discussed in other places but I have not been looking at SI that much. They are so nice. Although charts can fail, I would not want to be a bear standing in front of this potential stampede of bulls.

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