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

To: HairBall who wrote (32881)	11/9/1999 5:54:00 AM
From: GROUND ZERO™	Respond to of 99985

Okay.. busted..... hehehehe... but, I didn't say I wasn't a madman.....<g> GZ

To: HairBall who wrote (32881)	11/9/1999 5:10:00 PM
From: HairBall	Read Replies (2) \| Respond to of 99985

To All: I just saw a link to a S&P Futures chart posted. The chart was drawn very loosely in my opinion. Drawing charts that loose allows one to draw just about what they want. This is not an attempt to offend anyone, but I decided to post a chart drawn correctly in my opinion. Please be advised I am basically self taught so I recognize no one (or book) as an authority. I do however agree with some of the established rules and I do use the standard terminology in order to facilitate dialog. However, I think most chartist are not strict enough with the trend lines. When one does not follow strict rules when drawing the trend lines of a formation, one can just about draw what one want's. This gets a lot of T/A folks in trouble. The following chart is my QChart - S&P 500 E-mini Futures 60-Minute Semi-Log Chart. Note: The second rising wedge did not follow the trend and my indicators were giving clear signals it would not. Most on this thread know I missed that call. However, I was distracted during that time frame with non-market business, but that really is no excuse since I was posting my analysis publicly. homestead.com Let me know if this chart is of use, I will post them more often. If not, I will save my time...<gg> EDIT: The third rising wedge has breached the lower trend line, but this may turn out to be just an adjusting move to that lower trend line. Follow through is needed to confirm a break to the norm. EDIT #2: Chart formations are not 100%, however if strict rules are followed and only those formations are charted that have high percentage probabilities then the percentages of being right greatly increase. Regards, LG