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Strategies & Market Trends : MDA - Market Direction Analysis

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To: OX who wrote (44091)	3/25/2000 12:49:00 PM
From: Dave Shares	Read Replies (1) of 99985

June Dollar Contract I follow the practice of redrawing the bullish support lines on buy signals following sell signals, this I believe is the Chartcraft method and Tom Dorsey references it in his book. On that basis, the bullish support line for June Dollar would currently be at 103.4, a print of 103.2 would break that support. As a trade, this would be a tough spot to go short on the contract because the stop would be way high at 106.2. One would have to wait for consolidation or a rally back up to initiate a short position to minimize risk. It will be interesting to see if the bullish support holds. The contract is now trading near to a previous triple top break. David

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