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

To: t2 who wrote (77933)	6/4/2001 5:56:29 PM
From: eichler	Read Replies (1) \| Respond to of 99985

NV, Please understand, no offense taken. We squared up our brief disagreement some weeks back, I hold no grudge. As far as the effectiveness of TA over time...it depends on the time-frame being considered. Hourly charts portend price movement over hours and days, daily charts - days and weeks, weekly charts - weeks and months and so on. I am allowing within the context of the current megaphone pattern on the daily chart from 4/18 to present...price movement within the pattern considered. A break above (around 2430) would turn me bullish again, a break below (around 2110) would confirm my bearish suspicions at this time. I know this is quite a wide range...maybe even seems useless to consider. At this point, we are flirting with the lower boundary of the pattern and we are a couple of days from the full moon (frequently turns out to be a turn date) having enjoyed a market rally for the last month since the 4/4 bottom... enough stuff to have me cautious and on the alert for a breakdown. Nothings guaranteed of course, either way...we'll all just have to be satisfied with what the "market" dishes out. Wouldn't be the first time I've been wrong either and certainly won't be the last! <g> Part of the "human condition", I'm afraid. Regards, Eichler