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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

+1.6%

Nov 10 4:00 PM EST

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To: donald sew who wrote (32771)	11/8/1999 10:52:00 AM
From: HairBall	Read Replies (1) of 99985

donald sew: Thanks for the response. Unless I am missing something, I don't believe the DOW 30 has broken 12,000, so I can not see how 13,000 could be part of a established trading range. The DOW 30 Industrials had been in a declining trading range (falling wedge) since the peek in August as had the NYA since July. A bottom was put in 10/18 and since its duration approaches 30 days, it is approaching an intermediate term. A retrace of a "falling wedge" is the norm. Depending on the duration of the falling wedge the expected out come will vary from a partial retrace to a trend reversal. There is a lot of ground between the previous highs and the pivot on 10/18 for traders to advantage. Regards, LG

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