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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: bearshark who wrote (16797)	6/11/1999 8:20:00 AM
From: HairBall	Read Replies (2) \| Respond to of 99985

bearshark: For example, the DOT has a large symmetrical triangle and it has broken out of the bottom. The DOT triangle has an apex at about 640. Currently, it appears to be in a test of the apex. It can go to 640 and again fail. Or it can go to 640 and breakout which would make me go long. The projection, if the apex holds and the DOT moves down is 390 - 350 but may be lower due to future projections. The symmetrical triangle I charted on the DOT was formed from a rising trend line, which made it a bullish formation. It did break to the up side, but failed soon after the break. I will add that previous triangle formation, to my next chart for the DOT, on my chart page on the MDA Web Site, for your review tonight. However, I believe (having shown this current formation on my chart for the past couple of weeks) that the DOT is now in a falling wedge formation, which is also a bullish formation. Just my take….<gg> Regards, LG