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

To: Eddy Blinker who wrote (78181)	6/7/2001 4:41:57 PM
From: HairBall	Read Replies (2) \| Respond to of 99985

Eddy: Here is the answer to your question, complete with chart! My Qchart – NYA (NYSE Composite) 15-Min Semi-log Chart I noted on the chart the 15-min bar in play at the time of my post. Follow the vertical gray line down to the various indicators (stochastic, MACD, DM) and you will see what I was looking at in this time frame However, as the chart reveals, the pattern had one more pop before beginning the drop. Just the pop needed to pull my 65-min technicals into the overbought range as well, lining up all three of my primary multiple time frame intraday technicals in the overbought range. I like it best when they all line up...<g> You should also note, the falling wedge formed from the expected drop. When the price action tagged the support line the second time today in the 13:00 ET 15-min bar, coupled with my intraday multiple time frame technicals it recieved a clear signal a bounce would follow. In an effort to get a few orders filled I was delayed about 20 mintues or so before I could post my read on MDD today. marketdirectionanalysis.homestead.com I need to update my How to Interpret My Charts text, but here it is anyway. marketdirectionanalysis.homestead.com Regards, LG