SI
SI
discoversearch

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 671.910.0%Nov 14 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: HairBall who wrote (1928)12/15/1998 11:43:00 PM
From: Jon K.  Read Replies (2) of 99985
 
The Market as measured by the Dow Industrials may well continue up some more
tomorrow. However, I suspect the current upper (resistance) descending trend line
should hold. To view this trend line, use the DJI (Dow Industrials Actual Data) daily
chart, connect the high of 11/30 & 12/8 and extend to the right. A one-day projection
for that trend line will be in the approximate area of 8850. That will be a trend line to
watch should the IND/DJI trend further up tomorrow.

Note: A significant breach above that trend line may negate the following expectation.

I am expecting the Market as measured by the Dow Industrials to head back down
from that trend line, if not sooner. Support areas will again be the 200 day SMA at
8716 (today's close), the 50 day SMA at 8698 (today's close) and then the price action
cluster created by a previous Bull Flag. Range is from the top of the pole at 8652 to the
lows of the last day before the break out at 8328.

I will just call resistance at the 8500 area (+/-). Look across the chart in this range and
you will be able to see the previous Bull Flag.


LG, I read this 4 times (really), still don't get it <gg>

I understood this much; the market will go up some tomorrow. After that... flag and SMA... just doesn't get through my thick skull.

Could you explain one more time please.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News