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

To: JRI who wrote (77300)	5/22/2001 10:07:48 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

JRI: The COMPX (Naz Comp) Sept 00 Falling Resistance Line was breached at the open on the 17th. The declining line is roughly in the area of 2145 at the open today. The Sept 00 Falling Resistance Line for the NYA (NYSE Comp) was breached with yesterday's price action and is roughly in the 657 area at the open. I don't know if the Sept 00 Falling Resistance Lines will hold or not for the NYA. The resistance line of the intraday RTC for the COMPX off the pivot high on 4/20, breached yesterday should be watched as well for support. Like I said in my earlier post, often these resistance lines are breach by the big boys to be used as support areas. If I am right, they will likely hold for obvious reasons. If the price action drops below the above mentioned lines, then I would look at Fib and Gann retrace points of the rally from the mid month lows. In addition, I would look for the final pivot turns off the previously in play intraday bullish chart patterns (NYA & COMPX) support lines which began the 18th rally. Note: All charts reads using semi-log scaling. Regards, LG