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

To: Challo Jeregy who wrote (28964)	10/9/1999 10:26:00 PM
From: Stcgg	Read Replies (1) \| Respond to of 99985

Challo.. Look at the S&P daily, you can draw a descending triange.. The upper TL extending from the mid-July hi to the late Aug and Oct 8th hi; the lower supporting TL extending from the mid-April lo, thru the Aug 5th and Sep 28th lo's.. Any break of the supporting TL will cause support to become resistance, with the next lower support @ approx 1215, where the index shows parallel support to a double bottom formation of early Feb and early Mar99.. >><<