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


To: HairBall who wrote (24009)8/27/1999 3:23:00 PM
From: HairBall  Read Replies (3) | Respond to of 99985
 
To All: Looking at the SPX (30-min Semi-Log Chart), note the rising wedge formation based from the low on 8/10. A rising wedge pattern portends a retrace of the rally it bounds. The lower trend line of the pattern was penetrated today, tested and now the SPX is falling away.

That signals the high on 8/25 was at least a short-term top, maybe more...

Regards,
LG