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

To: bobby beara who wrote (27206)	9/25/1999 1:58:00 PM
From: Tai Jin	Read Replies (1) \| Respond to of 99985

I see the SPX in a large descending triangle since the peak in July with support currently at the 200dma (or view it as an H&S with left shoulder established in April). If support holds then we'll probably get a bounce to around 1330 testing the downtrend line. If the support breaks then I think we're looking at 1140. If the DOW follows then it's probably headed towards 9350. I'm not sure how to read the NAZ, but it appears to be in a rising megaphone since the beginning of the year. I believe this formation will resolve to the downside. ...tai