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Strategies & Market Trends : MDGF - Market Direction by Gut Feel ONLY!
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To: HairBall who wrote (239)12/17/1999 9:37:00 AM
From: HairBall  Read Replies (1) of 410
 
Market Alert - The market is at a decision point. It is either going up or down with the small possibility of going sideways.

Disclaimer: This GUT FEEL prepares the trader for the day ahead, providing observations on market sentiment, internals, support/resistance levels and key pivot points in the major market indices using the daily chart. Use of moving averages and the Average Directional Index (ADX) indicator helps to determine whether the market is trending up/down or chopping sideways. Using Japanese candlestick charting techniques, observation of market action around support and resistance assists in the analysis of supply and demand based on fundamental principles of classical technical analysis. The results set up "if-then" scenarios used by the trader during market hours.

Technical analysis is not used as a tool to "predict" the future or to pick tops and bottoms. It is used to detect areas of trend change and emerging trends. In a trading range, traders generally look to buy at the low end of the range and to sell at the high end of the range ? or stay out all together. In a trending market, traders generally look to enter the market on every retracement until it enters a trading range and ends on a test. The goal is to buy every dip in an uptrend and sell every rally in a downtrend. The trend is your friend until the end when it bends!

Remember you heard it here first...<ggg>

Regards,
LG
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