MDA - Market Direction Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.10

0.0%

4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: eichler who wrote (80645)	7/21/2001 12:53:16 PM
From: Square_Dealings	Read Replies (1) of 99985

eichler I'm not sure what to imply from the repeating patterns but it seems clear we are still in a down trend on many scales. I will work on getting a website set up where I can post my charts for discussion. But when I look at the monthly chart of the Naz composite it appears to me that we have penetrated the rising trendline support going back to 1994. We did this in March of this year. The month of May was spent trying to get back above the old trendline and it was not able to penetrate to the upside. Now we have turned down from that trendline since June. So on a longer perspective it still seems like the Fibonacci projection to 1356 on the COMPX is acting like a magnet. It may be possible to find support on the rising trend channel going back to 1990 which right now is around 1450 or so. But to me it looks like we are going down somewhere in that area from a longer term perspective. good luck. M.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next