Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: HairBall who wrote (20384)	7/18/1999 11:36:00 AM
From: j.o.	Read Replies (1) \| Respond to of 99985

LG, I just took a look at your Dot.x chart, and wanted to get your read on something. If indeed we are to see a continuation of the present uptrend, possibly leading to a blow-off top, then it would seem to me that we need to hold the 600 level in the DOT.x. This is both a key support/resistance on the daily chart going back over some time, and roughly the point where the 50-d moving average comes in (your yellow line MA line, as I understand it). Now we have some ways to fall before we get there, and we may well stop short of testing that level, but I think it's the key to our further success. I think that a strong reaction to Donalds Class 1 sells in some of the indexes could possibly get us there. My question is, if we were to fall that far, is there any particular reason why we might continue down, as opposed to heading back up? I am trying to figure out if there's something that I'm missing which would invalidate my read. From a wave perspective, we should not violate (i.e. fall below) the highs (these are also around the 600 level) set in the first wave up from the recent mid-June lows. As long as we hold above 600, we look ready to launch into our fifth wave up - which should be at least 100 points. Just trying to get back into the swing of things here <ggg> Have a good one, j.o.