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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: Monty Lenard who wrote (4154)	1/18/1999 11:27:00 PM
From: donald sew	Read Replies (4) of 99985

Monty, >>>>>>> I show the intersection at 9520.44 on 2/8/99. Using Semi Log the intersection is 9551.97 on 2/3/99....... What is the significance of that date and value? <<<<<< My belief is that sometime before of by that date the declining PITCHFORK will be broken to the upside or the rising LOWER TRENDLINE of the WEDGE will be broken to the downside. Combining chart patterns can sometimes give significant clues. If one rechecks last SEPT there was a rising FLAG which morphed into a WEDGE and just before the dump in the market there was a small 4 day pennant formed within the WEDGE/FLAG. Lets say that near FEB 7 the DOW is right around 9500 and I get a CLASS SELL signal - well guess what I will be doing. Nothing is conclusive but with such a juncture of technicals does increase the probability. It could happen before then, since I could get a CLASS SELL signal as early as the end of this week and other factors like the 55 day FIB top and GANN turning points. That date just narrows the timeframe. Hope I explained it clearly. Thank you and all the rest who have charted it. seeya

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