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

To: Paul Shread who wrote (54949)	6/22/2000 10:54:00 AM
From: el paradisio	Respond to of 99985

Now or never for INDU siliconinvestor.com el

To: Paul Shread who wrote (54949)	6/22/2000 11:09:00 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

Paul Shread: Thanks for the read. There are several formations in play. The longer-term formations usually rule. I have a longer-term rising wedge on my intraday COMPX chart. It was illustrated on the chart I posted yesterday and another shorter-term intraday rising wedge developed yesterday. Both are being penetrated with today's price acton so far... I have a rising wedge formation on the SPX with the point of origin at the pivot low on 6/13. MSFT <----- I expected it to lead the decline, but instead it is struggling near yesterday's high, actually minimizing the decline in the indexes of which it is a component by not participating. I still expect it to decline, but per my "trading rules" have a stop loss in place. COMP <----- (Dow Jones 65 Composite Index) dropped below its longer-term triangle yesterday. Today it is extending that drop...follow through. NYA <----- (NYSE Composite Index) is testing the March 00 Rising Support Line illustrated on the chart I posted yesterday. Regards, LG