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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.59

+0.6%

Dec 19 4:00 PM EST

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To: lurqer who wrote (68327)	2/2/2001 12:00:14 PM
From: HairBall	Read Replies (1) of 99985

lurqer: Whoops...I having a bad "posting" day...LOL I'll cover both bases with this post..sorry Steven! NTAP <----- My intraday technicals dropped into the oversold range yesterday with the break below the sym triangle. A break to the norm by the way. A price consolidation began with yesterdays bounce at the point of origin of the triangle. I am looking for the consolidation price action to give clues as to the next move. If I were to place bets now, it would be for a continuation of the trend after a bearish consolidation pattern which may fill some of the gap. (A significant move back above the gap down would signal a reversal at least short-term.) SEBL <----- As mentioned yesterday I expected a price consolidation to begin. My intraday technicals were mostly in or near the oversold range, but they were mixed at the open. I would expect the retrace of the rising wedge to extend after the consolidation. See the charts I posted at the open for reference. Regards, LG

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