MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.10

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To: dennis michael patterson who wrote (36933)	1/7/2000 8:46:00 AM
From: Terry Whitman	Read Replies (1) of 99985

Hi Dennis, AOsmell is sitting on the bottom of a falling channel right now- so odds are that it will rally for a bit. If it falls instead (more than 3-4) I would short it on any uptick, because it will have violated the channel. If it rallies, the top of the channel would suggest a good entry point may be any where above 75 in the next few days. I suggested last week to short when it broke 75- but I didn't follow my own advice. <g> Here's a nice report on it- but as you can see, it has broken the 70 support level since that was posted. stockcharts.com also Unemployment report out- biz.yahoo.com

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