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

To: eichler who wrote (78814)	6/15/2001 3:37:20 PM
From: HairBall	Respond to of 99985

eichler: Actually as mentioned in my earlier post this AM, I have a couple of forming trading channels for the Naz Comp. I'll share them this weekend...(one is close to the one you mentioned, but the support line is different.) Regards, LG

To: eichler who wrote (78814)	6/15/2001 4:22:17 PM
From: Les H	Read Replies (1) \| Respond to of 99985

You're better off drawing the trendline off of the 6/8 top and intersecting that with the trendline for base of the complex head-and-shoulders top just broken. The two resistance lines should intersect at 2110 Monday or Tuesday. Exceeding that level, then you may have a shot at a second right shoulder or more.

To: eichler who wrote (78814)	6/16/2001 7:52:38 PM
From: el paradisio	Read Replies (1) \| Respond to of 99985

I think,the downtrend should not last longer than 1-2 days and the gap on Nasdaq around 1950 will hold.. I expect the next high on Nasdaq to go above the recent high with the first resistance at around 2400. Friday close looks bullish to me....you won't be able to see it yet on weekly charts. Correction for Networking and Internet sector is done... MSFT should hold 65-66 area IMO. Difficult to say yet, if this is the beginning of the new bull market (possibly yes)...or it would be a double top. I found some similarities in the recent peak and mid-July 00,now the question is...if next high will be like in Sept 01 00, or the new bull market will take over... Still supply is higher than demand...but only in the stock market. When most of the corporations are cutting production by 30-50%...soon we may find, that we don't have enough goods for growing population. Regards, el