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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.38

+0.1%

Nov 12 4:00 PM EST

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To: SBerglowe who wrote (50408)	5/11/2000 8:58:00 PM
From: Jerry Olson	Read Replies (1) of 99985

SB on ADBE..right now the weekly chart is still rising...and above its 20 period ema...looks like a wedge is forming... on the daily it broke support and is now below the 40 period ema on the daily...however this last stick was a good one...you'll need it to break over 114 with volume... but mny sense is it's going lower...it's been range bound since Feb, but an upward sloping channel...it has succesfully tested the lower channel line every time..but.....maybe not this time... QCOM...weekly in a downtrend.since the Jan top... daily...it's currently sitting on the 200 mva and this has been support since mid April...there's a half decent 3 stick pattern there..if i were trading this i would put a buy stop in at 104, looking for a trade... at least it has tested this area 2-3 times before successfully...this all depends on market direction now...it has a rising ADX as it moves lower..negative too... it's still in a downtrend.... hope that helps...OJ

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