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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

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Nov 28 4:00 PM EST

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To: donald sew who wrote (4820)	1/28/1999 11:31:00 AM
From: HairBall	Read Replies (1) of 99985

donald: Taking an additional look at the "falling wedge" (bullish) or "descending triangle" (bearish) formations. Speaking strictly from my own perspective...I usually interpret from my primary charting platform which is the IND (Dow Industrials Theoretical) Daily Semi-Log Chart, which will not support the "descending triangle" view. However, I plotted out what you use, the DJI (Dow Industrial Actual) Daily Linear Chart. If I draw the lower trend line using the lows of 1/14 and 1/22 and discount the 1/25 penetration as just a violation, not a trend line adjustment, the pattern could well be a "descending triangle" which would be bearish. I guess if no further adjustments are merited...if the Market goes up it was a "falling wedge" or a failed “descending triangle” and if the Market tanks it was a "descending triangle" or a failed "falling wedge"....<g> BWDIK Regards, LG

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