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

To: Dwight E. Karlsen who wrote (43801)	3/22/2000 8:10:00 AM
From: HairBall	Read Replies (6) \| Respond to of 99985

Dwight E. Karlson: Some of us do expose ourselves by sharing our work and expectations Of course, no one is right all the time and that includes me. Let me start off "defending" myself by posting my following post after I posted I expected the primary exchange composite indexes to continue down Monday evening. The posts are in descending order: Actually, the bounce today came right on cue, but I admit it was a little stronger than expected and turned into a full-fledged intraday rally. Message 13253124 This bounce has turned into a clear intraday possible ST reversal. Message 13248184 COMPX <----- Testing both my second support area and the recent low. Look for a pause here or possible a bounce. Message 13247738 The post you are taking issue with. Message 13244868 Due to the divergence between the NYSE and NASDAQ Indexes, it is possible for the SPX to hit a new high while the two major exchange composite indexes fail to establish new highs. Message 13238349 I have not change my intermediate term expectation, yet! But one should grab and take advantage of the volatility as it occurs...EVEN if it goes against one's expectations. Looking at the SPX intraday it did go lower before rebounding intraday as did the NYA and COMPX. However, with the divergence in the primary exchange?s composite indexes, I do not think the SPX is a leading indicator or even a very good smoothing indicator at this time. That is why I have been using the NYA and COMPX as the primary indexes in my analysis. The following are short-term intraday charts that show the bounce at support for both the COMPX and NYA. All chart lines were on these charts in advance of Tuesday's price action except for two resistance lines added to the NYA chart. Frankly I did not think the small price action area that came into to play on the NYA chart, would! Some of the short-term resistance lines are now back in play. My QCharts NYA (NYSE Composite) 15-Minute Semi-Log Chart marketdirectionanalysis.homestead.com My QCharts COMPX (NASDAQ Composite) 15-Minute Semi-Log Chart marketdirectionanalysis.homestead.com My QCharts COMPX (NASDAQ Composite) 15-Minute Semi-Log Chart marketdirectionanalysis.homestead.com Dwight: As I said no one is right all the time. Some more wrong than right. But some of us do take the time to share our work with others on the thread. I already know what my charts say to me and my own analysis of my charts. I spend considerable time on a daily basis to upload my charts, format my expectations based on my work and then post both with links to the charts on this thread. Questioning someone's expectations and or analysis on this thread is fair game, as long at it is done in a cordial and respectful manner. After reading your ridiculing comments at the bottom of your post, you failed to comply with the thread guidelines. Since you obviously find my work of little to no use, I suggest you click past my post in the future. I look back over your post to this thread and noticed you NEVER offer any analysis or expectations. I also notice you hang out on the Clown thread as well. May I suggest you keep your comments there, as nasty swipes are on topic for that thread and are considered in good humor. ------------------------------------------------- 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 (SRLs) 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. ------------------------------------------------- To All: Sorry I used up my time this AM defending myself. I do not have the time to post the charts I was going to this AM. Good trading all... 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 any one person's views or analysis. Do your own research and take responsibility for your investment decisions. QChart/QFeed Disclaimer: Although I currently continue to use this service I can no longer recommend it in good faith, as the service has become unreliable, IMO.