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


To: flatsville who wrote (49950)5/9/2000 12:49:00 PM
From: Wayners  Read Replies (1) | Respond to of 99985
 
I see how they connected the line (running through the 4/24 tail,) but I think a break of the lower line of bear flag at 3600 (formed by connecting the 4/17 and 4/24 lows) was important to watch.

Thats the only one I'm watching. Don't waste your time with the upside resistance line. The Naz isn't testing that--its all over the 3600 point right now.



To: flatsville who wrote (49950)5/9/2000 1:47:00 PM
From: James Strauss  Respond to of 99985
 
Also the triangle you see and mentioned to el is a symmetrical triangle in an UPTREND. This looks like a down trend to me--thus no triangle.

chartpatterns.com


Flat:

A Symmetrical Triangle is a Symmetrical Triangle in an uptrend or downtrend... The breakdown today below the bottom trendline produces a bearish outcome... This usually leads to lower prices...

Jim