MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: eichler who wrote (77557)	5/30/2001 11:49:52 AM
From: James Strauss	Read Replies (2) of 99985

I see the obvious trendline connecting the 4/4 low and 5/16 low.....(daily chart) Try as I might drawing lines all over my chart...I can't seem to see the second trendline which intersects... Eichler: If you go back to the end of March 2000 and connect the price peaks, it takes you to the 2150 area on an intermediate term basis... siliconinvestor.com That support area failed today as did 2125... Now, 2057 remains as support for the Nasdaq... Below that, 1900 and 1800 offer minimal support before the 1600 area... A return to the 1600 area could set up a climactic double bottom with major capitulation... That's where the new buying will begin... Jim

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