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

To: marginmike who wrote (58998)	9/15/2000 4:22:06 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

marginmike: This weekend I am fairly engaged, but if I can sit down to my computers I will upload a chart and some commentary. Next weekend the plan is to begin updating my web site again. However, I suspect we saw a low on the COMPX (NASDAQ Composite) on Wednesday (9/13) with the gap down spike momentum in the first 15 minutes. The Dow is an interesting read as well, but I want to look at my "end of day" WOW charts before commenting further. More importantly is the NYA and COMP read. Although the Market has been volatile as of late, the casino bosses’ intentions have been less camouflaged than normal. How bout that QCOM...<gg> Have a great weekend everyone... Regards, LG

To: marginmike who wrote (58998)	9/18/2000 8:49:20 AM
From: HairBall	Read Replies (2) \| Respond to of 99985

marginmike and all: Arrived back in town late last night, sorry I could not get the charts up sooner. My WOW – NYA (NYSE Composite) Daily Semi-Log Chart The NYA is in a rising wedge pattern that is moving up along the resistance trend line of the 82 Rising Trading Channel and has put in slightly higher new highs. I would expect the NYA to retrace soon. marketdirectionanalysis.homestead.com My WOW – COMPX (NASDAQ Composite) Daily Semi-Log Chart The COMPX is trading in a ascending triangle formation off its May low. Price action is at the support line of that triangle which should produce a bounce, but a break below would signal a likely reversal. Note: Ascending triangles are normally bullish when started in an up trend, this triangle was started in a down trend which makes it susceptible to reversals. marketdirectionanalysis.homestead.com Note: Always keep an eye on pattern trend lines for negations or breaks to the norm. How to Interpret My WOW Charts: marketdirectionanalysis.homestead.com Regards, LG Disclaimer: The above is my opinion only and I reserve the right to be wrong. An overall market expectation is just that and should not be used in exclusion of the evaluation of individual equities or other investment instruments. Do not base any investment decision solely on any one person's views or analysis. Do your own research and take responsibility for your investment decisions.