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

To: Michael Watkins who wrote (41299)	2/25/2000 9:01:00 AM
From: HairBall	Respond to of 99985

Michael Watkins: 1358 to me was just the high (pivot point) intraday on 2/22. In an earlier post you mentioned the NYA, it penetrated its adjusted rising support line off the Dec 94 low yesterday and closed just about right on it. I say adjusted because the first break was the 98 decline. The adjusted trend line is now connected to the Oct 98 low and extended. A lot of important support lines coming into play, on the NYSE side. The NASDAQ side keeps banging on its rising resistance line running across the tops since 1/3. Each contact of this line with some breaches is always with a stochastic reading in the overbought area, 60-Minute Interval. It closed above it yesterday. (All observations in semi-log scale.) Regards, LG