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

To: HairBall who wrote (30435)	10/18/1999 4:37:00 PM
From: HairBall	Read Replies (2) \| Respond to of 99985

To All: On the OEX Five-Minute Semi-Log Chart, where the descending resistance line and the horizontal support price action line converged, that intersection proved to be the intraday point of decision expected. After forming a "quick" intraday rising wedge the OEX dropped back down to retest the support area. However, the support area proved ultimately to be the staging area for a retrace. This retrace could become a rising consolidation pattern, but additional price action is needed to confirm. My QChart - OEX 5-Minute Semi-Log Chart homestead.com ------------------------------------------------- My QChart Trend Lines Green lines are resistance trend lines or resistance horizontal price action areas. Red lines are supportive trend lines or supportive horizontal price action areas. Gray lines are either resistance trend lines, resistance price action areas, supportive trend lines or supportive price action areas that have been broken. They can now act as either support or resistance depending on price action. Dark blue lines are formation lines. ------------------------------------------------- Good afternoon all... Regards, LG