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

To: j.o. who wrote (31478)	10/26/1999 2:13:00 PM
From: Roebear	Read Replies (1) \| Respond to of 99985

j.o., Enjoy it indeed, a lot of stuff turned red on my screens the last 30 minutes. Roebear

To: j.o. who wrote (31478)	10/26/1999 4:11:00 PM
From: HairBall	Respond to of 99985

j.o.: On Monday 10/18 I posted a link to one of my intraday charts of the OEX which displayed a descending resistance line and what I believed was a strong support line. Message 11626350 I also indicated I expected a move up from that support line and the beginning of rising consolidation pattern. Message 11629136 I also posted a link to one of my intraday OEX charts Sunday pointing out the resistance lines coming into play this week. Message 11687286 On my intraday OEX chart today, Message 11707678 I called attention once again to what I believed would be final resistance to the move up of the rising wedge formation. A break to the norm for a rising wedge would be down with at least a retrace of the pattern. Short-term rising wedge patterns are often just rising consolidation patterns and imply a continuation of the trend they started from. The rising consolidation patterns of several major indexes became obvious over the course of last week. I track them all. The patterns have begun to break to the norm, which is down. Near-term technical analysis is alive and well...<g> Note: Over the course of the last few trading days, I posted several additional intraday and daily charts of several Indexes which displayed rising consolidation patterns coupled with support and resistance lines and areas. I update and delete charts uploaded on my site from time to time, some of the charts may no longer be available in the links provided above or they may have change considerably. Regards, LG Disclaimer: The above is my opinion only and I reserve the right to be wrong. An overall market expectation is just that and should not be used in exclusion of the evaluation of individual equities or other investment instruments. Do not base any investment decision solely on anyone person's views or analysis. Do your own research and take responsibility for your investment decisions.