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

To: James Strauss who wrote (48499)	4/28/2000 9:51:00 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

James Strauss: Per my work, I am going to be surprised if this AM's move turns out to be anything more than a head fake! All should note that I have no money bet on the above thought as I am flat at this time and will be away from my trading desk much of today! By the way symmetrical triangles usually break in the direction of the trend and when formed at the end of a dramatic price move up or down are usually referred to as pennants which also usually break in the direction of the trend. Of course, chart patterns are not 100% and the negation of formations can and do occur at trend reversals. Good trading! Regards, LG

To: James Strauss who wrote (48499)	4/28/2000 12:20:00 PM
From: AllansAlias	Respond to of 99985

Allan: We appear to be getting an upside breakout of the Symmetrical Triangle... No. IMO we appear to be getting a probe of the upside. If Walter Peyton head-fakes did not look like the real thing, then linebackers would'a taken him down a lot more often than they did. el: Have to agree that congesting on upside of the formation shows market "wants" to break upward. Am on road today. Do not have a feel for it, but would have expected the open to be below us by now if this were strong. Instead, as the thieves head to their lunch dens, the open is above us. Seems weak to me, but WTHDIK. Cheers --Allan