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Strategies & Market Trends : MP - Market Pulse -- Ignore unavailable to you. Want to Upgrade?

To: John Madarasz who wrote (254)	7/1/2001 9:59:17 PM
From: HairBall	Read Replies (1) \| Respond to of 1328

COMPX Intraday Charts... My QCharts – COMPX (NASDAQ Comp) Charts It seems to me this Index has been a pretty easy read for quite some time. When it gets this easy for this long, I begin to get worried…<g> As mentioned in my previous post Friday, the price action began to form a intraday rising wedge originating from the pivot low last Wednesday 6/27. As the wedge neared its apex both the 5/22 falling resistance line and the support line (now acting as resistance) of the previously in play rising trading channel originating from the 4/20 high exerted their influence. I would look for the intraday rising wedge to break to the norm, which would be down. A normal break would portend at least a partial retrace of the formation, but I expect the high profile chart services that dropped the H&S patterns from their charts this weekend will be sneaking them back on in a day or three…<g> July 9th is my next possible turn date. 130-Min Semi-log marketdirectionanalysis.homestead.com 30-Min Semi-log marketdirectionanalysis.homestead.com How to Interpret My Charts marketdirectionanalysis.homestead.com Regards, LG Disclaimer: The above is my opinion only and I reserve the right to be wrong. An overall market expectation is just that and should not be used in exclusion of the evaluation of individual equities or other investment instruments. Do not base any investment decision solely on any one person's views or analysis. Do your own research and take responsibility for your investment decisions.