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

To: bobby beara who wrote (67916)	1/29/2001 11:09:27 PM
From: ken-l	Read Replies (1) \| Respond to of 99985

bobby, sorry for the ignorance, i'm just a simple trader; i frankly have never traded bonds, nor options, nor gold !!!! however, if i'm seeing correctly, XAU has 2 formations which need to be confirmed !!!! first, it has the H&S with the neck line being at or near today's close !!! however, it's also forming a bullish flag' with the lower trend line support being slightly lower than the lower b-band tomorrow @46.50+/- !!! if it is indeed the H&S and the 46.50+/- wont hold the retracement in the next day or two, i'll agree that it'll head lower in the intermediate term basis !!! however, if it retraces and rebounds from the 46.50+/- tomorrow, it'll then confirm the possibility of the bull flag formation with the upper trend line resistance of the flag being @51+/- in the next few days !!!! IMO !! bobby .. if i understand correctly; if stk goes up, gold goes down, and vice versa, rite ?? <seriously dont know - GGGGG> thanx again !! regards, auto