MDA - Market Direction Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis

SPY 695.17

+0.2%

Jan 12 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Square_Dealings who wrote (47080)	4/17/2000 11:41:00 PM
From: AllansAlias	Read Replies (1) of 99985

michael, Thanks for the Elliot/Fib stuff. They tend to be down my list somewhere just above indicator divergences, but I do appreciate input from those that know/trust it. I wouldn't buy it just because it clears the gap. For me, it would have to take out the trendline dating back to Oct/98 that is knifing through said gap. Where this will be obviously depends on how long it takes us to get there. (A big upthrust tomorrow would meet this trendline resistance right at the top of the gap.) The 200sma is also in the gap right now. Going out farther, the downtrend line from the top of Mar/24 collides with this gap area at month's end. ------- In general, I was surprised to see the Aug/99 trendline hold up in this "crash". It was only touched 3 times previously. Friday's low bounced exactly off the Aug99/Oct99 trendline drawn through the closes and today gapped down to just above the same trendline drawn using intraday lows. Going over charts back to 1950, I see no "crash" that resolved this way. We wiped out Dec99 gains only. Maybe this is a "new era/economy" correction and is as good as they get (vbg). --Allan

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next