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

To: bobby beara who wrote (51860)	5/23/2000 7:34:00 PM
From: John T.	Read Replies (2) \| Respond to of 99985

Bobby, I think your coordinates or instructions on AXP were off. I don't get anything when I connected the dots between 1/6 and 4/14 and today's close. However, I think I see what you are talking about: 1) Symmetrical Triangle on AXP - upper line across the highs of 4/26 and 5/16; lower line under the lows of 5/3 and 5/22. Volume drying up during the triangle. Since AXP up trended into the triangle, it implies that AXP will break out of the triangle to the upside. The up side break out price is around 52 3/8. 2) Large Inverse Head and Shoulders on AXP -- head at low on 3/8; left shoulder at low on 1/6; right shoulder at low on 4/14. Neckline slanting down to the right across the highs of 2/1 and 4/26. Break out about 52 1/2. Hmmmm...OK, I would conclude that AXP is poised to break out to the up side. Now, Bobby, what does that mean for the general market direction? Please answer fully and completely! <g> Also, please type real slow so that I'll understand. <gg>

To: bobby beara who wrote (51860)	5/23/2000 10:08:00 PM
From: set	Read Replies (1) \| Respond to of 99985

something I just noticed: users.uswest.net this A/D summation job usually bottoms right around or just before the 39 week cycle. That was even true last year when the SP topped on the cycle. Wish I had a LOT more data to work with, but based on what I have, this time appears to be different. So I have to wonder. Would a weekly close below the cycle low be unrecoverable? EDIT: or ps, whatever. post volume seems a bit high. Maybe the low will just not be breached at all.