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

To: IndexTrader who wrote (41239)	2/24/2000 3:50:00 PM
From: Haim R. Branisteanu	Respond to of 99985

I was thinking it is worth mentioning S and AMR made a new 52 week low, on the other hand RMBS, JDUS made a new 52 week high so far for fundamentals......... and a "respected" so called brokerage house recommends NOW JDSU at 254 and not at 34 10 months ago...... BWDIK Haim

To: IndexTrader who wrote (41239)	2/24/2000 3:51:00 PM
From: HairBall	Read Replies (3) \| Respond to of 99985

IndexTrader: It seems we usually fall short of the exact trend line, so I take a couple of points off. I suppose everyone is watching the same lines, and they either start buying or selling as we approach them. I often do the same thing when taking a position. However, as often as trend lines come up short they are over run as well. By the way your call for a move up to 1358 has held almost exactly so far. I assume you were looking at the intraday top on the 22nd....<g> I will post a chart after the market closes showing what you and I have been talking about... Last hour recover...the volatility continues...signs of indecision and or lack of conviction! Regards, LG

To: IndexTrader who wrote (41239)	2/24/2000 4:18:00 PM
From: HairBall	Respond to of 99985

IndexTrader and All: Below is a link to a chart revealing the resistance and support areas we were discussing...at least this is how I seem em...<g> My QCharts SPX (S&P 500 Index) 15-Minute Semi-Log Scale Chart marketdirectionanalysis.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. Light blue lines are previous formations. ------------------------------------------------- Regards, LG