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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.21

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Jan 2 4:00 PM EST

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To: bobby beara who wrote (53731)	6/12/2000 10:17:00 AM
From: HairBall	Read Replies (2) of 99985

bobby and all: The following charts have some trend lines to keep an eye on today... My QChart COMPX (NASDAQ Composite Index) 15-Minute Semi-Log Chart The rising wedge while still in play is fairly beat up. marketdirectionanalysis.homestead.com My QChart NDX (NASDAQ 100 Composite Index) 60-Minute Semi-Log Chart The NDX has a violated rising wedge as well, but it is still in play as well and is not looking as beat up as the one on the COMPX. marketdirectionanalysis.homestead.com My QChart NYA (NYSE Composite Index) 15-Minute Semi-Log Chart The NYA is sporting a bullish flag. Some of these short-term formations as of late have been being negated. Keep an eye on both bounding trend lines for clues to the eventual break. marketdirectionanalysis.homestead.com ------------------------------------------------- My QChart Trend Lines My charts are screen captured at (1024 x 768) and are best viewed at that resolution. 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. ------------------------------------------------- EDIT: Well before I could get the charts uploaded, linked and posted...the rising wedge for the NDX appears to be trying to break to the norm...time will! Regards, LG

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