MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: mtnlady who wrote (66371)	1/9/2001 1:59:40 PM
From: HairBall	Read Replies (1) of 99985

mntlady: The chart you requested... My Intraday/Daily - SEBL (Seibel Systems) Daily Semi-log The illustrated falling trading channel is a stretch as that support line will likely not come back into play. However, calling the top forming last Sept, Oct and Nov was just a matter of plotting the rising wedge and watching it play out. Using the resistance line of the falling trading channel and the falling support line (red) illustrated on the chart, a falling wedge is created. It implies more downside, but that a rising consolidation is due in the short-term. lgscharts.homestead.com How to Interpret My Charts marketdirectionanalysis.homestead.com Regards, LG

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