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

To: Les H who wrote (60282)	10/10/2000 2:07:34 PM
From: KymarFye	Read Replies (1) \| Respond to of 99985

At times like these, I think the trendlines - which everyone can draw differently, and which become even more inexact drawn over long periods at different scales - are less telling, and obviously less precise, than key historical levels, which are the same to everyone.

To: Les H who wrote (60282)	10/10/2000 2:14:28 PM
From: HairBall	Respond to of 99985

Les: I notice you drew them under the solid bodies. No actually I drew the lower trend line on the COMPX lows (9/13 & 9/22) and extended right. However, there was an earlier slight breach on 10/4. (Log scale charts) Per my work, if a channel goes beyond parallel I don't consider it a channel. I saw yesterday's move as a temporary breach since I drew the trend line under the prior lows. You could be right, however the price action is struggling below the support line per my channel today. This causes me to focus, as it could set up a strong move either way...with the bias down! Regards, LG