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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: HairBall who wrote (1627)	12/14/1998 12:33:00 AM
From: Doug R	Read Replies (1) of 99985

So, uh...LG, Whaddya think about the market direction here? If it gets close to confirming a double top by breaking under 8,000, would it make more sense to you to treat it as the dips have been up to now? If so, would you wait for: A) A new alltime high to show that the possible double top was not "for real"? B) A bounce off the up trendline from 11/94 to 7/96? (or 7/96 to 9/98) C) A bounce off the line across the 8/7/97 to 12/5/97 highs? D) A holding of the 9/1/98 intraday low as a double bottom? E) Enter your guess here.... There will be trading opportunities all the time of course but if that isn't a double top on the Dow, one of those things will likely provide the best time to go comfortably long again. IMO, Doug R

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