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

To: John Madarasz who wrote (62811)	11/19/2000 3:11:21 PM
From: KymarFye	Read Replies (1) \| Respond to of 99985

I admit the Nas and NDX have been looking rather malformed, but unless you're proposing a new chart pattern - call it the "Quasimodo" (Madonna to Quasimodo!, could say a lot) - what you describe looks more to me like a ruptured l-t trendline than an h&s (even after setting aside my [broken-record?] complaints regarding need for supportive volume characteristics). If so, you might want to measure from the point of rupture (looks to be around 3800 on your chart), rather than the horizontal (quasi-)neckline. The result might give you a substantially adjusted target or set of targets corresponding to a spectrum of adjacent price channels, support-resistance lines, and so on. Also, LG would probably want you to semi-log 'em. I agree with you that a rough warnings season could be a problem, especially amidst some worst-case political situation. On the other hand, resilience in the face of whatever bad news would reinforce the idea that a bottom really had been made.