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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 694.04

+0.7%

Jan 9 4:00 PM EST

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To: John Madarasz who wrote (75321)	4/18/2001 10:28:25 AM
From: HairBall	Read Replies (2) of 99985

John & Doug: The intraday patterns that formed yesterday on most of the major indices were falling wedges....time to get long for traders as the price action intersected the larger rising wedge and rising trading channel pattern support lines. So, a move up was in the charts. As I posted on the CB Forum last month in advance 3/22 was a turn date for my work. The NYA has held serve and the COMPX bottomed on a secondary turn date 4/4. The intraday and short/med-term trading patterns for both my normal trading hours and all sessions charts have been without conflict as of late until today. That always causes me concern. Ride the bull, but limit the fall! It is always prudent to set stops and trails stops behind winning runs. Good trading... Regards, LG

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