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 671.93

0.0%

Nov 14 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Jon K. who wrote (2002)	12/16/1998 12:21:00 AM
From: Moominoid	Read Replies (1) of 99985

LG says he expects the market to go up until the Dow hits the trend line (which is drawn as a line resting on the upper price fluctuations since the last top - ie a line tangent to the chart). Then he expects it to bounce back until it hits the 50 and 200 day moving averages at which point it might consolidate a bit. However, if it breaks above the existing trendline all bets are off. Often previous consolidation/resistance areas on the way up become congestion/support areas for the price on the way down. That's the bull flag stuff. A bull flag is a short down trend within a major advance. On charts that include daily highs and lows it looks like a sloping down rectangular "flag". Does this make sense to you? I really think there is no short-cut but to first learn some standard TA terms. There are plenty of good books and websites. This stuff is the most basic "classic TA". David

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next