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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 668.73

+1.5%

Nov 24 4:00 PM EST

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To: HairBall who wrote (5002)	1/30/1999 11:29:00 AM
From: donald sew	Read Replies (3) of 99985

LG, I think I am noticing a WEDGE forming in the NAZ. It is not very pronounced since the upper and lower trendlines are converging slowly. Coordinates: UPPER TRENDLINE - highs of 1/12(2396) & 1/20(2474) LOWER TRENDLINE - lows of 1/13(2206) & 1/22(2304) Since the convergence of the trendlines is slow it appears that the APEX of this WEDGE projects into MAR/APRIL, but keeping in mind that with a wedge dissolves before the apex. Is the convergence enough to consider it a WEDGE, since it is so narrow? If anyone can help to chart this one out, would greatly appreciate it. Seeya

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