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

To: prosperous who wrote (51146)	5/18/2000 12:05:00 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

Hemant Rotithor: Actually the decline from INTC's recent top does not produce a falling wedge or bullish flag from my perspective....looking at semi-log or linear! Frankly, the 60-minute chart reveals a currently in play bearish rising consolidation pattern. A rising wedge... I will try to link a chart later if time allows. Can you link a chart of your read? TIA Note: Chart formations are not 100% as is no TA or FA analysis. Regards, LG

To: prosperous who wrote (51146)	5/18/2000 1:25:00 PM
From: HairBall	Respond to of 99985

Hernant Rotithor: Below is the INTC chart I promised... My QCharts INTC 60-Minute Semi-Log Chart Note the price action moved over today to test the rising support line of the rising wedge. The line held initially and a bounce occurred. The apex of the wedge occurs on Monday, but with the falling resistance line (green) in play, I suspect this formation will resolve to the norm sometime today. A retest of the support line is in progress as I type and can be seen more easily on a 15-minute chart. marketdirectionanalysis.homestead.com Note: Chart formations are not 100%. ------------------------------------------------- My QChart Trend Lines Green lines are resistance trend lines or resistance horizontal price action areas. Red lines are supportive trend lines or supportive horizontal price action areas. Gray lines (SRLs) are either resistance trend lines, resistance price action areas, supportive trend lines or supportive price action areas that have been broken. They can now act as either support or resistance depending on price action. Dark blue lines are formation lines. Light blue lines are previous formations, but on occasion are used to depict longer-term formations as well. ------------------------------------------------- Regards, LG