MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 672.07

-1.7%

4:00 PM EST

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To: HairBall who wrote ()	3/24/2000 7:16:00 AM
From: HairBall	Read Replies (1) of 99985

Some charts for your review before the Market opens... My QCharts INDU (Dow Jones 30 Industrials) 60-Minute Semi-Log marketdirectionanalysis.homestead.com My QCharts COMP (Dow Jones 65 Composite) 60-Minute Semi-Log marketdirectionanalysis.homestead.com My QCharts NYA (NYSE Composite) 60-Minute Semi-Log marketdirectionanalysis.homestead.com My QCharts COMPX (NASDAQ Composite) 60-Minute Semi-Log marketdirectionanalysis.homestead.com My QCharts NDX (NASDAQ 100) 60-Minute Semi-Log marketdirectionanalysis.homestead.com My QCharts SPX (S&P 500) 60-Minute Semi-Log marketdirectionanalysis.homestead.com ------------------------------------------------- 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 (SRLs) 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. ------------------------------------------------- Many of the above Indices are at resistance, near resistance or close to resolutions of formations that portend a retrace of this rally and or both. GE is testing its previous high, this should prove to be some resistance. IBM after being attracted to the gap down has found resistance twice at the lower boundary of that gap. The futures are mixed this AM as I type. I would look for at least a pause to the rally and possible a pullback to begin today. I have heard rumors that the FED may hike rates again prior to the May FOMC meeting and that at that meeting a 50 point basis hike is possible. While I do not agree with the method, Alan and Company are focussed on stopping the market mania. Regards, LG Disclaimer: The above is my opinion only and I reserve the right to be wrong. An overall market expectation is just that and should not be used in exclusion of the evaluation of individual equities or other investment instruments. Do not base any investment decision solely on any one person's views or analysis. Do your own research and take responsibility for your investment decisions. QChart/QFeed Disclaimer: Although I currently continue to use this service I can no longer recommend it in good faith, as the service has become unreliable, IMO.

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