MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.56

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To: Dell-icious who wrote (2127)	12/16/1998 6:30:00 PM
From: HairBall	Read Replies (1) of 99985

The Market as Measured by the DJI (Dow Industrials Actual Data) Looking at the 60-Minute Interval, Semi-Log Chart: The upper (resistance) descending trend line, remains intact. To view connect the high of 11/30 and 12/8 and extend to the right. Today's price action approached the trend line twice. This is an important trend line and one should continue watching it tomorrow. If it holds the DJI should to move down and test support areas again. (See previous chart action 12/6,7,8,9.) If it is breached (more than a violating trend line adjustment) that may portend a medium term turn. My previous expectation stands, I expect this trend line to hold and for the DJI to move down and again test support areas. I expect the IND/DJI to lead the Market. However, I still need to download the IND (Dow Industrials end of day theoretical data) later this evening to confirm the above analysis and view the latest from my indicators. (All Disclaimers Apply) EDIT: Additional demands on my time will limit my participation through the end of the year. Sorry, I may not be able to respond to all post. Good luck trading. BWDIK Regards, LG

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