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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.08

-0.8%

Nov 18 4:00 PM EST

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To: eichler who wrote (76296)	5/1/2001 1:25:43 PM
From: eichler	Read Replies (1) of 99985

Tight range $compx 2088 low, 2110 high. Who will blink first? 30 ema(rising to flat) 60 min chart providing support. 30 ema (falling to flat) 15 min chart providing resistance. Anyone starting to see why I rave about these MA's on ANY time frame? They are very predictive of exact support and resistance. Trading above the 30 ema is bullish for the time frame considered, trading below is bearish. When price breaks above the 30 ema on one time frame, I go to the next time frame for the next resistance point(30 ema). Very scary how well it works. Not only the indexes, individual charts as well. Observing candle formations when price interacts with support or resistance tips off the next move. Yes, TA really works. And that's only one indicator among many! "Voodoo" update on USIX breakout alert from yesterday. Appears to be picking up momentum. Volume so far today on a better pace. Price trading above the 30ema on the daily and all shorter time frames (bullish). Looking for a target of 2.50 (last higher high) to around 3.40 (trendline extrapolation connecting last two highs (daily). NOTE that TA indicates a profitable move in the making, not that the stock or company is good or bad. Profits are for TAKING! Best of luck trading.

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