MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 694.04

+0.7%

Jan 9 4:00 PM EST

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To: HairBall who wrote ()	4/26/2000 12:56:00 PM
From: HairBall	Read Replies (1) of 99985

As I am going to unplug from the market in a few minutes, I thought I would post a couple of observation folks might want to keep an eye on. Both the COMPX (NASDAQ Composite) and NYA (NYSE Composite) have bearish chart patterns forming from this rally, albeit in the early stages. The formations are illustrated in dark blue trend lines. These bounding trend lines would be important to keep an eye on. A break to the norm (the percentage play) would be eventually to break below (not just a penetration) the lower boundary and retrace some if not all of the formation. A break above (not just a penetration) of the upper bounding trend line would signal a negation of the formation. To view these two "updated" charts you can find them under the QCharts section of my market direction web page at: marketdirectionanalysis.homestead.com Note: These formations are in the early stages and they may see trend line adjustments from further price action or they could be negated early on, still worth watching! Regards, LG

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