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

To: JRI who wrote (66594)	1/11/2001 3:26:58 PM
From: HairBall	Read Replies (3) \| Respond to of 99985

JRI: Don't misinterpret my intraday trading, I haven't changed my position regarding my call Tuesday of last week that (Tues or Wed of last week) would see a short to medium-term low for the NAZ. A week or so later, the short-term part is booked, now let's see if the medium term part flys...<g> The negation of the wedges was indeed bullish. The big boys wanted the price to move above last Thursday's NAZ high. However, my technicals are now all in the over bought range, when they all line up, they rarely fail. As the price nears the falling resistance line of the NAZ Comp Oct Falling Trading Channel, (at around 2680/82 and falling). We "should" get a pullback before moving above the channel, but we could also see a spike above to set the resistance line as support. This has to be played real time... The 2644.80 area should begin to act as support. I am looking to go short again, but the timing as always will be critical... Regards, LG