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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 691.97

-0.3%

Jan 30 4:00 PM EST

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To: r.edwards who wrote (14643)	5/22/1999 9:07:00 AM
From: donald sew	Read Replies (2) of 99985

R.edwards, MRK appears to be near a major support. There appears to be a TRIANGLE forming(LOWER HIGHS and HIGHER LOWs), with the APEX pointing towards the low 70's and disolving in about a week. Will it break to the upside or downside. Once a triangle is dissolved it is much more common for a strong movement in either direction rather than staying flat. The overall market is weakening now and if there is a correction it will tough for MRK to pop to the upside if the whole market is correcting. seeya

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