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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 695.59

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Jan 27 4:00 PM EST

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To: marginmike who wrote (58998)	9/18/2000 8:49:20 AM
From: HairBall	Read Replies (2) of 99985

marginmike and all: Arrived back in town late last night, sorry I could not get the charts up sooner. My WOW – NYA (NYSE Composite) Daily Semi-Log Chart The NYA is in a rising wedge pattern that is moving up along the resistance trend line of the 82 Rising Trading Channel and has put in slightly higher new highs. I would expect the NYA to retrace soon. marketdirectionanalysis.homestead.com My WOW – COMPX (NASDAQ Composite) Daily Semi-Log Chart The COMPX is trading in a ascending triangle formation off its May low. Price action is at the support line of that triangle which should produce a bounce, but a break below would signal a likely reversal. Note: Ascending triangles are normally bullish when started in an up trend, this triangle was started in a down trend which makes it susceptible to reversals. marketdirectionanalysis.homestead.com Note: Always keep an eye on pattern trend lines for negations or breaks to the norm. How to Interpret My WOW Charts: marketdirectionanalysis.homestead.com Regards, LG Disclaimer: The above is my opinion only and I reserve the right to be wrong. An overall market expectation is just that and should not be used in exclusion of the evaluation of individual equities or other investment instruments. 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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