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

To: Arial who wrote (46944)4/17/2000 12:08:00 PM
From: Arial  Read Replies (2) | Respond to of 99985
 
This simple chart would have told the greedy to lighten up . . . . . .

bigcharts.com

Draw a line connecting the '90,'94 and '98 lows. Draw a parallel line from the 1987 top (Fibonacci 13 years, by the way). When the parabolic move in the $COMP pierced that line at 5000 it was like ringing a bell. Draw another parallel line from the 1987 low (fork). The $COMP is currently sitting on that resistance.

Also notice that the '98 low bounced off a line connecting the '83 and '94 highs.



To: Arial who wrote (46944)4/17/2000 1:52:00 PM
From: Haim R. Branisteanu  Read Replies (4) | Respond to of 99985
 
Relative to the panic over the weekend I see a quite stable market for a change, just wonder what tomorrow will bring.

The bounce was not so hard as I expected and I tend to believe that we will regroup at those levels with an upward bias into first week of May.

Selling option those days are very profitable.

BWDIK
Haim


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