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

To: Wayners who wrote (61828)	11/3/2000 3:33:26 PM
From: Galirayo	Respond to of 99985

I'm Not .. it was resistance on the 34 dma. Now we are thru it. Just Trigger a SAR Buy .. A rest after the SAR Trigger. Looks Fine to me. It needs to rest to go for the 50 DMA. Ray

To: Wayners who wrote (61828)	11/3/2000 3:45:15 PM
From: virtualsignal	Respond to of 99985

Wayne re 3550, the Nas above the 3375 area appears to have offset the breakdown area from the first recovery rally. This suggests a move toward 3550/3650. It should be a straight creeping line into the election. Enjoy the weekend.

To: Wayners who wrote (61828)	11/3/2000 3:59:52 PM
From: KymarFye	Read Replies (1) \| Respond to of 99985

Doji Nas: Watching, but, unless something ugly turns up right quick, say with some unprecedented help from CSCO, just suggests a pause to me in the recent upturn, which was looking a bit too steep anyway. Shouldn't be much of a disappointment unless you were counting on a full-speed re-play of last year.

To: Wayners who wrote (61828)	11/3/2000 5:35:19 PM
From: John Carson	Read Replies (1) \| Respond to of 99985

Wayne, Not sure we got a doji today, probably Monday if anything. Just going over some charts of the COMPX and QQQ, I see three different bearish formations: 1. Rising wedge formation in overall down trend coming to an apex right around the close on Monday. 2. Classic head and shoulders, first shoulder at 10/15, double top head at 10/23 and second shoulder at 10/28, then weird offshoot from second shoulder which is the ascending wedge that we are in now, seems end of the year bulls are trying to crawl out of the head and shoulders. 3. Third double top formation on COMPX since March at 3538 which is also apex of ascending wedge. When this all comes together early next week, break the bear or break the NAZ? Thinking of buying some puts on QQQ on Monday as COMPX creeps up to 3500 before CSCO reports. The charts are making it clear that something will happen soon, seems to be a move to the downside. Could the NAZ break to upside? Maybe Nader wins election and we go up from here?

To: Wayners who wrote (61828)	11/3/2000 7:19:51 PM
From: eichler	Read Replies (3) \| Respond to of 99985

Wayne Oddly, I have been eyeballing the current pattern on the $compx and have an interesting prediction relating to the doji you foresaw before the close. Try not to laugh too hard. On the Daily Chart, $compx we have a low on 10/13 on the FM (full moon), a high 10/20 LQ (last qtr), a low 10/26 NM (new moon), a high 11/3 1Q (1st Qtr). The action of 10/20,23,24 was kept in check by the 30ema (exponential moving average coinciding with 29.5 lunar cycle), a moving average I follow. Similarly, the 30ema provided stiff resistance again on the highs of 11/2, 11/3. If this pattern persists a bit longer, a low would be expected on/near FM 11/10, next Friday. From a more technical point of view, the pattern forming on the 60 min charts of $compx, $dji, $spx do not look very bullish to me. These wedges technically are bearish. Individual stocks, many I watch have completed Fib. retracements of 38%-50% from Aug highs to Oct lows. JNPR completed filling its gap today from its recent dive. Beara's recent warning is also fresh in my mind as are all recent reminders that this market is not so healthy. All in all, I do think the $compx is in a bottoming mode, but the waters are choppy and it just wouldn't surprise me in the least to see some weakness next week and another low next Friday. Some of the stocks I play have already shown sell signals on 60 min charts (GBLX yesterday, LBRT today). I took profits on longs yesterday, did modest shorting today and will be looking to buy again on weakness late next week. Basicly, this whole week I've been profitably long; now in flat/short posture looking to pick up bargains again next week. I admit in advance my analysis is unconventional at the least. I think it is perhaps worthy of consideration and it sure will be interesting (at least to me) if we see more selling next week followed by another chart marker on the full moon. Good luck to everyone. Regards, Eichler P.S. As nothing goes straight up or down (usually), maybe some flatness or modest rally Monday followed by deterioration. OR, now that I posted this wacky idea, the markets go straight up to da moon! <ggg>