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

To: el paradisio who wrote (49808)	5/8/2000 4:06:00 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

el paradisio: I drew the line on Nasdaq from Apr 10 at 4480 and from Apr 17 at 3250, an ascending triangle was formed I don't have time to go into details both my new computers just arrived. Only the router to come...<g>...However the above was an incorrect formation per my work. See the thread header and visit the Chart Formations link. I think it will help you... Regards, LG

To: el paradisio who wrote (49808)	5/9/2000 11:58:00 AM
From: James Strauss	Respond to of 99985

when I drew the line on Nasdaq from Apr 10 at 4480 and from Apr 17 at 3250, an ascending triangle was formed, with an important support to hold at 3715 for today.We are now in pennant,the apex of that triangle is coming on May 13 at 3767. If my calculations are wrong,please correct me. el: It's actually a Symmetrical triangle... chartpatterns.com Ascending Triangles have rising bottom lines with flat top lines... Symmetrical Triangles have rising bottom lines and descending top lines ( > )... This more closely resembles the current Nasdaq chart pattern... Your analysis is good... We should see an apex in the next few days between 3765 and 3775... Usually, breakouts or breakdowns occur before the apex is reached... Jim