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

To: pater tenebrarum who wrote (23869)	8/26/1999 8:04:00 AM
From: Lucretius	Read Replies (2) \| Respond to of 99985

how about the bottom just falls out and it implodes so quickly that bears are left behind at the station unless they were already short.... ie- ONE i've got to think it will go this way. too many are "riding the wave" and think they'll know when to exit

To: pater tenebrarum who wrote (23869)	8/26/1999 8:31:00 AM
From: HairBall	Read Replies (2) \| Respond to of 99985

Heinz: Investor psychology featured on Bloomberg this AM. Sounds like they have been reading you as of late...<g> Of course, I heard no Austrian accents...<gggg> My OMC Index closed up against the upper trend line of the current rising wedge formation. Rising wedge formations normally portend a retrace of the rally they are bounding. The percentage play would be for a pullback today. I suspect yesterday was a top at least short-term to the current move up. In addition, yesterday the TYX using a (H,L,C,O semi-log chart by QCharts), dropped below the rising wedge formation that has contained most of the rate rise based from the Oct 98 reversal point. Rising wedge formations normally portend a retrace of the rally they are bounding. This rate action needs some follow through to the downside to confirm, as this formation has been prone for violations to the upside and may well receive some to the downside. If follow through occurs, I would expect an oscillating retrace. Note: Chart formations are not 100%. Additional cautionary note: My "end of day semi-log" WOW chart using the close only is still well within that rising wedge formation. This is my primary charting program. However, it has dropped below the rate support line based from the end of this January as it fell back into the center of the rising wedge formation. Regards, LG Disclaimer: The above is my opinion only and I reserve the right to be wrong. Do not base any investment decision solely on anyone person's views or analysis. Do your own research and take responsibility for your investment decisions.