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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.44

+0.6%

Dec 19 4:00 PM EST

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To: Les H who wrote (60274)	10/10/2000 1:17:17 PM
From: HairBall	Read Replies (1) of 99985

Less: Per my work the falling trading channel for the COMPX was breached with yesterday’s drop. Of course the rally took the price action back up to test the lower support line. The in play bearish flag is more easily viewed on a 15-min chart. My Qchart – COMPX (NASDAQ Composite Index) 60-Min Semi-log Chart marketdirectionanalysis.homestead.com ------------------------------------------------- My QChart Trend Lines My charts are screen captured at (1152 x 864) 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. Note: Some of the trend lines that appear on my charts may have been establish by one or more price action points not shown in the current view or snapshot. ------------------------------------------------- Regards, LG

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