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 684.84

+0.6%

4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: donald sew who wrote (963)	12/9/1998 9:26:00 AM
From: HairBall	Read Replies (3) of 99985

donald: Well, the price action of the DJI (Dow Industrials Actual Data) moving back into the Flag is a move that I do not see often. I am not sure of the implications. Price moves above the previous upper (resistance) ascending trend line, would be very bullish I think. However, there is a secondary trend line that served as support in this Bearish formation. Viewed by connecting the low of 12/4 and the early AM low of 12/8 and extend. This may well serve as resistance and turn the action back down. Projecting this trend line forward one day reveals a track for the 30-Minute Semi-Log Chart from 9060 to 9115. Note: As I am typing, Globex is signaling that the Bearish formation may well be at risk of being negated this morning. I thought that possible after, the price broke down below the supporting trend line significantly and then closed back up into the formation. However, after an obvious struggle, if this formation holds it may well signal substantially lower prices and possibly a retest of the Oct 8 low. This will be an interesting day for me technically speaking, watching this chart pattern resolve. Time will tell... BWDIK Regards, LG

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next