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

To: Stcgg who wrote (64375)12/16/2000 12:58:19 AM
From: Gary Burton  Read Replies (1) | Respond to of 99985
 
Stcgg---Look at a 30 minute chart---2 points---1)Your 12345 from 2523 area to above 3000 was more likely an abc where 'a' is your 1, 'b' is your 2 and 'c' is your 3,4,5-the tipoff is that from the bottom of your 2 (my b) it did a 1-2 and then a fast whoosh up for 3 then a retrace for 4 and another move up for 5--and the whole thing channels correctly.........2)On the move down from 3020ish, we are likely in the middle of a 4 since on a half hour chart there were gaps down and the macd/rsi bottomed coincidently with Friday's low print--just like a wave 3 is supposed to.....my 2c



To: Stcgg who wrote (64375)12/16/2000 5:52:48 PM
From: JRI  Read Replies (2) | Respond to of 99985
 
St- Just so I'm clear, on Friday, you were worried about a break of 2631....was that worry just on a closing basis? If so, are you looking for the next wave up to start (continue) Monday...and how far? IYHO, do you think it's unwise to hold thru Fed meeting?

Finally, if we gap at open, are looking for a pullback, or would you chase the gap (I hate doing that..hoping for a down morning but holding 2595 to get in)...TIA mucho..


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