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

To: Chip Anderson who wrote (17405)	6/15/1999 12:04:00 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

Chip: With all due respect...the channel in question is not on your charts. It is a composite chart of the NYA-COMPX (NYSE Composite and NASDAQ Composite) equally weighted. I see you are using Semi-Log charts, it keeps the current chart moves in perspective to the longer-term trends. That's why I started using them back in the mid eighties. However, take a look at the chart on my chart page on the MDA Web Site...it is a stacked chart showing the NYA-COMPX, TYX (Long Bond Rates) and the XAU. The chart not only identifies the rising support line for 25 years, but a parallel rising resistance line as well. Of course, within this long-term channel, smaller channels can be identified, but I chose not to ID them, as I wanted the longer-term channel to stand out. Obviously you get trend changes as the NYA-Composite oscillated from channel line to channel line. With the more dynamic trends taking place with the move from late 94 and then even more dynamic off the Oct 98 low. EDIT: However, nice charts....I like the work you put into providing the long-term views. Thanks... Regards, LG