MDA - Market Direction Analysis Message Board

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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: gfs_1999 who wrote (74234)	4/5/2001 9:04:29 AM
From: HairBall	of 99985

Gfs_1999 Category: General Interest From: lg (L G) To: ALL Date Posted: April 03, 2001 at 11:45:29 Subject: INDU bouncing at its 50% retrace level (9533.06) of the 3/22 rally... NYA bouncing close to its 50% retrace level (575.35) of the 3/22 rally. The next pivot low support for the COMPX is at (1634.30). My multiple time fame intraday technicals are legging into overbought range for both the COMPX and NYA with the shorter-term osc already there. That suggests a pivot low could occur at any time, but one is more likely to occur later today or at the latest tomorrow AM. village2000.com Category: General Interest From: lg (L G) To: ALL Date Posted: April 04, 2001 at 10:34:14 Subject: NDX and QQQ are penetrating their respective FTC support lines... ...this is to be expected as the Falling Trading Channel for the Naz Composite is still below the price action. Look for a tag around the 1635 area, but the index could pivot at any moment (or already has) slightly above the support line. I have begun to buy into the drop this AM. (QQQ at or below 34.25, CSCO at or below 13.625, NTAP at or below 12.375 among others.) NOTE: Trading bottoms in a downtrend is high risk trading and should only be attempted with high risk capital by those with the ability to get orders executed in a timely manner. As always stop loss points should be used followed by a switch to trailing stop loss points with a winning trade... village2000.com NQ Emini currently lock limit up 42, ES Emini lock limit is 27, currently up 23.75. Regards, LG

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