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

To: Lee Lichterman III who wrote (20953)	7/23/1999 1:53:00 PM
From: John T.	Read Replies (1) \| Respond to of 99985

Good point, L3_aka_L3. The possible double bottoms are very obvious. Even a novice like myself noticed them. We'll just have to wait and see what develops.

To: Lee Lichterman III who wrote (20953)	7/23/1999 2:56:00 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

Lee: As expected in my Sunday Chart Breakdown, the TYX found support at (actually a little above) the rising support line (thick red line) based off the Feb 1 low. The TYX bounced along slightly above the support line and finally rallied starting yesterday. Fundamentalist would say Greenspan delivered the move, but TA already had it in the works...<g> The expected rally began a retrace of the move off the rate top back on 6/24 to the low on 7/13 and found resistance just above the 50% retrace level at (6.026) about 13:02 EDT. Time to act on the Sew's signal? Note: if you want to see my 60-min interval chart of the TYX you can see yesterday's update on the my “Chart Breakdown” page on the MDA Web Site. Several Indexes have seen some support areas broken , but more important supports are holding, view the remaining 60-min charts linked on that page. Sorry, I am a little late with this post, but this is another busy day! EDIT: Of course, now that I managed to find the time to post this, the Market will probably tank...<g> Regards, LG