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Strategies & Market Trends : MP - Market Pulse

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To: HairBall who wrote (147)	6/26/2001 9:51:39 AM
From: HairBall	Read Replies (1) of 1328

thenightowl: My "far now" support line has been penetrated and the standard plot (the one you used) comes into play for the INDU falling wedge. Let's see if it holds...a break below not just a penetration would signal a negation of the wedge. However, my preference has always been to watch the primary Indices. The NYA and the COMPX price action, both are still well within their respective wedges as I type. My intraday shorter-term indicators are already in the oversold range with the two longer-term intraday indicators at or below midrange and falling for the NYA. A little early to tell if the NYA initial support line (the one treating the 6/15 spike down as a violation) is going to hold... Unfortunately, I am going to be away from my trading desk much of today and will not be able to enjoy this volatility...<g> Regards, LG

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