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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

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To: donald sew who wrote (4810)	1/28/1999 9:03:00 AM
From: HairBall	Read Replies (1) of 99985

donald: Looking at the "linear" chart so we are on the same page, I believe what you are seeing is part of the larger falling wedge formation (bullish). The problem with the pennant is your first low point is below the bottom of the pole (1/14) that rises into (1/20) to compete the pole and start your pennant. IMHO Look at the DJI 60-Minute Interval "Linear" Chart to see the "Falling Wedge". To view the upper descending trend line, connect the highs of 1/11 @ 15:30 EST to 1/27 @ 9:30 EST and extend to the right. To view the lower descending trend line, connect the lows of 1/14 @ 14:30 EST to 1/25 @ 9:30 EST and extend to the right. Regards, LG

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