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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.03

+1.0%

Nov 21 4:00 PM EST

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To: HairBall who wrote (67999)	1/30/2001 5:48:45 PM
From: ken-l	Read Replies (1) of 99985

LG, <GGG> i think we're talking diff time frame here !!! without the chart being in front of us, i guess one can misinterpret the post !!!! re: >> I have been tracking a rising channel off the secondary low on 1/26. Price action moved sideways out of it today in an intraday bullish consolidation pattern. << - it maybe interpret in the 2 diff scenarios there, i think !!! first a broken pennant that the lower trend line has been retested during the last hour; or one can redraw using the entire session as one pennant <all in the 15mins chart> !!! but, i agree that it trailed off side way from the short term up trending channel; but bullish or not, i think i'll wait till tomorrow to find out <GGGG> re: >> The COMPX continues to trade (for the most part) inside a larger rising channel off the 1/3 low with some penetrations of the resistance line. << - agree; and it closed rite on the upper trend line today; and also agree wholeheartedly that compx will be trading in a bullish bias as long as it holds its 01/02 lower trend line !!! LG: what's ur take on the ascending price, but negative divergences in the MACD ??? with the peaky stoch, RSI, and the negative divgnce in the MACD; i suspect that we may see some down trending consolidation in the short term basis; perhaps as low as the lower trend line of the channel that started on 01/03 ""IF"" it cannot hold the trend line support/38.2% intermediate term retrace @2647+/- !!! but then again .. with the FOMC meeting in a way .. i really am clueless !!! <GGGG> re: NYSE - frankly, i've never had a chance to look into trading those in the big board !! good luck to ya if u decide to enter the trade(s) !!! regards, auto ps. what's grub 68K !!! <GGGGG>

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