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

To: ru2 who wrote (64540)	12/18/2000 10:35:01 AM
From: HairBall	Respond to of 99985

ru2: Always look for space between the open and the previous day's high or low before placing a gap open into the "true gap" column. My multi time frame technicals lined up Friday clearly in oversold. When they all line up, they are rarely wrong. Of course it is obvious to all that an intraday gap occurred at the open today in the NAZ Comp & NAZ Futures, so this part of my post is after the fact. The INDU found support at the previous descending triangle's resistance line at the open. NYA found first resistance at a 10/30 falling SRL as I type. COMPX found resistance at the upper band of the 12/14-15 gap down in the first opening minutes. This rally should back and fill but I expect it to extend, intraday "counter trend" rally in progress. Good trading... Regards, LG PS: Some very good contributions and discussion this weekend. It seems the EWavers are back...now back to lurking...<g>