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

To: bearshark who wrote (16809)	6/11/1999 9:10:00 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

bearshark: Yes, I often adjust trend lines, but only to a point.... And, I often get Edwards and Magee quoted to me. But, I am a self-taught technician and defer to no one. I have developed my formation reads on my own and only defer to the popular descriptions of these formations in order to communicate. When it comes to chart formations, I stick to charting those I consider very reliable. I just will not bet on any that are not. I do respect your opinion and would prefer to see the Market move back into the multi year rising trading channels identified on my charts for the DJI, COMPX and the NYA-COMPX Composite. (blue dotted lines) However, many bullish formations are giving me pause to my earlier expectation. Many of these formations are getting long in the tooth…and should resolve soon…then barring some very unusual activity, we will know trend direction. Regards, LG