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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 677.58

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Nov 5 4:00 PM EST

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To: $Mogul who wrote (61792)	11/3/2000 9:58:51 AM
From: HairBall	Read Replies (1) of 99985

$Mogal: I would of liked to have seen more Compx chart and indicator talk tonight. A chart for your review… My Intraday Chart – NDX (NASDAQ 100 Composite) 60-Minute Semi-Log I am amazed at how many folks on SI are now experts on chart patterns. I saw a post yesterday that stated a rising wedge is a "bear market phenomena". Of course that is just not so, you will find them in bull markets and bear markets. Keep an eye on the converging resistance lines, a break above, not just a penetration, would negate the rising wedge and would be bullish. However, a break to the norm would be down and would portend, at the least, a retrace of "some" of the rising wedge formation and at the most would continue the trend from which it originated. marketdirectionanalysis.homestead.com How to Interpret My Charts marketdirectionanalysis.homestead.com Regards, LG

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