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Strategies & Market Trends : MDA - Market Direction Analysis

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Jan 9 4:00 PM EST

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To: Square_Dealings who wrote (80633)	7/21/2001 11:36:40 AM
From: eichler	Read Replies (3) of 99985

M., Thanks for that perception. I like to employ chart pattern recognition on intraday charts and the Farley book I'm dipping into and now your mention of Slezak and your own experience re-inforces that these patterns are valid even on different timeframes. The bull flag pattern on that chart I posted is my favorite pattern to play on penny stock breakouts. These days, I wait for the bull flag consolidation pattern to develop and attempt to buy where I believe the apex will form, usually at an important support for the next pop. I've actually been doing well lately just with this and even had a good week on minimal trading (all from the long side). Your mention of the repetition and "DNA" and growing larger patterns would almost imply that with the compx, QQQ forming those bull flags on the 60 minute timeframe which then break upwards might indicate that if these patterns develop on the daily chart and weekly chart...perhaps we are getting ready for a pop to the upside. The following charts of the compx on 60 min, daily, weekly illustrate as you said this repetition on various timeframes. home.earthlink.net home.earthlink.net home.earthlink.net This should be an interesting feature to keep track of and personally, I will henceforth be more aware of this phenomenon in the future. Thanks again for that observation, it really turned on a light bulb for me... Regards, Eichler

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