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 672.04

-1.7%

Nov 13 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: HairBall who wrote (81288)	8/8/2001 11:10:28 PM
From: ajtj99	Read Replies (1) of 99985

LG, looking at the recent pattern of drops to 1942 and 1934, we've had several down days, with an up day towards the end, and another 2-3 days of drops. The Daily Stochastics on the COMPX and NDX indicate neutral right now, so if we have a slightly positive day tomorrow, we may need to have further drops on Friday and possibly Monday morning to get into oversold territory on the daily charts and trigger a bounce. I believe that with the COMPX straying so close to the previous level of support in the 1934-1942 range today, a pivot off 1890 in 2-3 days is not that unlikely. Is it today's steep drop that made it more unlikely for you that we pivot below 1900? The steep slope on the short term charts and the likelihood that we'll be up tomorrow is the only thing that I can see that could put a drop to that level in question, as it will be difficult to stay in that channel without going lower.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next