MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 692.24

+0.3%

Jan 15 4:00 PM EST

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To: HairBall who wrote (41760)	2/29/2000 5:15:00 PM
From: HairBall	Read Replies (1) of 99985

My chart contributions for this evening...(for those that find them of use)...notes are on the charts...<g> My QChart S&P 500 Emini (March Futures Contract) 60-Minute Semi-Log Scale Chart marketdirectionanalysis.homestead.com My QChart NASDAQ Emini (March Futures Contract) 60-Minute Semi-Log Scale Chart marketdirectionanalysis.homestead.com My QChart NYA (NYSE Composite) 60-Minute Semi-Log Scale Chart marketdirectionanalysis.homestead.com My QChart COMPX (NASDAQ Composite) 60-Minute Semi-Log Scale Chart marketdirectionanalysis.homestead.com I expect the wedge formations for the NYA and S&P 500 Emini to lead to a partial retrace and a resumption of the down tend. I expect the wedge formations for the COMPX and NAZ Emini to lead to at least a significant retrace of the formations and likely lead to a reversal in trend...time will tell! Note: Plotting formations coupled with support/resistance lines & areas can confirm or negate one's expectations. Either way, appropriate action can be taken. ------------------------------------------------- My QChart Trend Lines Green lines are resistance trend lines or resistance horizontal price action areas. Red lines are supportive trend lines or supportive horizontal price action areas. Gray lines are either resistance trend lines, resistance price action areas, supportive trend lines or supportive price action areas that have been broken. They can now act as either support or resistance depending on price action. Dark blue lines are formation lines. Light blue lines are previous formations. ------------------------------------------------- Regards, LG

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