MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 674.96

+0.9%

Nov 25 4:00 PM EST

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To: HairBall who wrote (51751)	5/23/2000 8:57:00 AM
From: UnBelievable	Read Replies (2) of 99985

A Few Questions About the Charts- It is very helpful to me to be able to see your charts and read your comments concerning what they indicate. If you get a chance I have a couple of questions which would aid my understanding. Monday it made a significant move toward the previous 90 Rising Trading Channel I believe that this channel is represented on the chart by the dashed blue line immediately above the 90 Rising Trading Channel notation which seems to lead to 2875. Is this correct? I had been looking for two line within which was the "channel" but based on your comments it seems like the channel is represented by the single line which represents the trend. Is there a normal standard deviation for a channel? A retrace rally is in progress, look for previous support to act as resistance. Are there any general comments you could make concerning a retrace and a retrace rally? Is it a retrace to a specific dollar value or a retrace of the pattern itself? In addition to the blue ascending triangle what other elements of support which now can be expected to provide resistance? I appreciate the time you spend sharing your work. Thanks again.

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