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

To: Square_Dealings who wrote (47648)	4/21/2000 8:20:00 PM
From: Stcgg	Respond to of 99985

re: Which Way for the Markets.. The next support for the Naz is 2720-2975, going below 3210 would indicate a wave 5 decline in a new Bear Mkt, it would also violate the Oct98 lower TL.. Type and Character of Corrective Waves.. ZigZag - a corrective wave (a-b-c), where the b wave retraces only a part of wave a and wave c moves beyond the terminal point of wave a.. Waves a and c subdivide into 5 waves and wave b into 3 waves.. (Double zigzags are two zigzags in succession connected by an x wave).. Flat - a corrective wave (a-b-c), where the b wave retraces all or more of wave a.. Wave a subdivides into 3 waves and wave c may or may not terminate beyond the terminal point of wave a.. Horizontal Triangle - a corrective wave (a-b-c-d-e),which often develops after a very strong move in the market, with 5 subwaves, each further subdividing into threes, (ie, 5 successive corrective patterns forming a sideways pattern in the market, more or less).. Combination - a prolonged corrective wave that combines into one larger corrective wave 2 or 3 corrective waves, which are connected by one or two x waves. Two corrective waves connected by an x wave is called a double three.. Three corrective patterns, each connected by an x wave, is called a triple three.. The x wave, like other corrective waves in the direction of the main trend, subdivides into three waves (a-b-c).. >><<