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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 688.98

+0.5%

Jan 22 4:00 PM EST

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To: shamsaee who wrote (51281)	5/20/2000 5:03:00 AM
From: HairBall	Read Replies (1) of 99985

shamsaee / margin mike: QCOM <----- Has not been on my radar screen for a while...<g> Next support comes in at 82, followed by strong support at the upper and lower boundaries for the gap up 11/2-3/99 (Respectively 57.375 - 60.25) Below the gap and what should prove ultimate support if the gap fails to hold is the rising support line from Oct 98. Don't look for a straight-line descent. There will continue to be tradable oscillations, I suspect there will be a retrace beginning in the 82 range area just taking a quick look at my technicals. The rising support line is converging on the gap, contact will be made in September. My QCharts QCOM Daily Semi-Log Chart marketdirectionanalysis.homestead.com Note: Support areas should be reacted to in "real time" based on additional indicators as the price action nears or intersects with each support area.. ------------------------------------------------- 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, but on occasion are used to depict longer-term formations as well. Muddy Orange Line is the 200-Day SMA Muddy Yellow Line is the 50-Day SMA ------------------------------------------------- Regards, LG Disclaimer: The above is my opinion only and I reserve the right to be wrong. 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.

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