MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 21 4:00 PM EST

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To: HairBall who wrote (3935)	1/14/1999 1:57:00 AM
From: StockOperator	Read Replies (1) of 99985

LG, Each chart has its own story to tell. But when you look at the DJIA for example, despite the market volatility, today's low was still higher than last week. Last week's advance in the averages was very strong with the DJIA breaking into new highs. A breakdown in those highs or lows would cause me to take a closer look at my position. It is so easy to be scared out of the market. The higher we go the more volatile the averages becomes. Thats why I think its crucial to analyze as many segments of the market as possible. And remember there are many ways to do this. The 5 minute chart builds into the 1 hour, which builds into the daily, which becomes the weekly and monthly and so on. My analysis tells me that time and trend are very important. Last week's buying and selling will definitely have an impact on this week's action. Thats why I would like to see how we close on Friday before making a call on where we're going. I hope this helps. SO

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