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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

+0.4%

Nov 19 4:00 PM EST

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To: John Madarasz who wrote (60930)	10/19/2000 8:09:23 AM
From: HairBall	Read Replies (1) of 99985

John Madarasz: My sht/med-term oscillator on my WOW daily chart turned up Friday the 13th. My daily technicals on my QCharts daily chart are in max-overbought range and will turn up with today's opening pop. My QCharts intraday technicals are mixed per the time interval. The VIX is given a bottom is likely in signal, albeit a ST to MT bottom IMO. The upper band of the 90 Rising Trading Channel provided support for the rising consolidating price action during most of 99. It should provide strong support and resist attempts of price action to re-enter the channel. The futures are telling us, we are gong to see a repel rally up off the upper band of the channel. I would guess the rise will top out (if it gets that far) at the cleavage low of the Madonna Cups. As Bob Seager would say peaks all her own in July and Sept...cleavage low in August at (3521.14)...<g> My WOW – COMPX (NASDAQ Composite) Daily Semi-log Chart A wider view per your request. I pointed it out at the time, but in hind site it is even more obvious...the rising volume (signs of distribution) as the bubble dramatically expanded from Nov 99 to the top in Mar 00, a blow off top. marketdirectionanalysis.homestead.com How to Interpret My 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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