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

To: donald sew who wrote (31067)	10/22/1999 4:54:00 PM
From: stockycd	Read Replies (5) \| Respond to of 99985

Donald and thread, I think we got our reversal this afternoon. The party's over. Classic reversals on all the forks for the NDX and Dow. Will post price targets later in the weekend. Edit: Does anyone notice the H&S that could be forming in the NDX daily chart? This could be very powerful! Chris

To: donald sew who wrote (31067)	10/22/1999 8:10:00 PM
From: MonsieurGonzo	Respond to of 99985

Donald:" TechStock Candlesticks " >candlesticks... in the NAZ/NDX/DOT are starting to also confirm my CLASS 1 SELL signals... yeah, DOT.X - Internet Index is interesting, though weekly chart is more ambiguous. imho the 'nets apparent liquidity has been somewhat de-coupled from the tech sector, overall SnP, to some degree, for some time. Every time I take one of these grrrlz out, I feel like I'm on some kind of virtual reality date, detached from the reality of the NDX and OEX :-) perhaps more indicative of TechStock sector sentiment than the overall NAZ are the daily candles on : IXS.X - San Francisco Regional Index; and, *TXX.X - CBOE Technology Index.* summing Thursday + Friday's TechStock Sector candlesticks together shows a monstrous doji after long white candle; It would have been difficult to hold either Long or Short trading positions through this "PING-PONG" as you so aptly call it; unless your style is to trade intra-day - for there was neither an apparent entry nor an exit point. Easier for all of us to see is the approaching DownTrend Line, apparent trading-range "channel" on SnP, DOW daily charts. any T/A trader with an entry at or below DOW 102. would have gone flat at or above DOW 104.5 for 2-1/2 bones this week. Emotionally, that would have been a tough shot for any player to make on a shaky pool table :-/ Tempting to sell CCalls again, anywhere at or above the DOW 105.7 = 50d EMA. Using the SnP, rather than the DOW - this tactic has worked for me during the last two months, fwiw. However, the spread between the 50d EMA and 200d EMA on SPY has converged quite a bit - Gonzo may not be able to milk this cow again, folks (^_^) -Steve