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

To: James Strauss who wrote (52879)	6/2/2000 1:01:00 PM
From: Jon Tara	Read Replies (1) \| Respond to of 99985

OK, that's the confusion - that's not a trendline! "If you go back to the double peak in the Jan/Feb time frame and draw a trendline straight across the chart, you'll arrive at approximately 3850 interim term resistance..." Trendlines connect tops in a market that is trending down, and bottoms in a market that is trending up. What you've pointed-out is a historical resistance line. This wouldn't typically be viewed as resistance now, but as potential support should the market move up through it.