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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 652.53-1.5%Nov 20 4:00 PM EST
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To: John Pitera who wrote (3160)12/31/1998 2:33:00 PM
From: Les H  Read Replies (1) of 99985
 
The translation is usually confirmed by whether it's accompanied by rising troughs and crests (right) or lower troughs and crests (left). The averages and many stocks seem to have both higher highs and lower lows when looking at long-term charts. Unless those turn out in retrospect to have been shakeout troughs.

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