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Strategies & Market Trends : MDA - Market Direction Analysis

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To: HairBall who started this subject	12/29/2000 9:29:11 AM
From: HairBall	Read Replies (2) of 99985

Last charts for the year... My Intraday/Daily - NYA (NYSE Composite) 30-Minute Semi-log Chart Price action yesterday pushed above the 9/11 falling resistance and the upper band of the sym triangle, finding resistance at the 12/11 high. My intraday technicals have been and remain in the overbought range. With the INDU’s current in play rising wedge reaching its apex today The overdue retrace should start today. A break to the norm would be at least a partial retrace of the formation. lgscharts.homestead.com My Intraday/Daily - COMPX (NASDAQ Composite) 30-Minute Semi-log Chart Using the 12/11 high and the 12/21 low Fib retrace levels have been plotted. Price action is trading in a low angled rising wedge finding resistance yesterday at the 38.2% Fib Retrace level. The apex for the current in play rising wedge occurs early 1/3/01. A break to the norm would suggest at least a partial retrace of this wedge. However, if strong rotation occurs during the NYA retrace, it is possible for this wedge to be negated. lgscharts.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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