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

To: Terry Whitman who wrote (30939)10/21/1999 11:10:00 AM
From: HairBall  Respond to of 99985
 
Terry Whitman: Looks like the OEX came up to right below the Fib. 61.8% retracement level. Spooky, huh?

Funny how this TA stuff works out sometimes...<gg>

Note: Bearish rising consolidation patterns portend at least a retrace of the formation. The high percentage play is they signal the continuation of the trend they were started from. However, they are not 100% and at times they can be part of a reversal. This is why additional indicators should always be used in conjunction with chart formations.

Good trading all...I will be away from my desk on and off today.

Regards,
LG



To: Terry Whitman who wrote (30939)10/21/1999 11:11:00 AM
From: donald sew  Read Replies (2) | Respond to of 99985
 
Hi,

Take a look at the 5-MIN charts on both the TICK and DOW, and I believe that they are forming a BEARISH FLAG. I feel that we could see selling by early afternoon, and could start within the hour.

seeya


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