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

To: t2 who wrote (80928)	7/27/2001 7:37:21 PM
From: ajtj99	Respond to of 99985

NV, the 2026-2030 area has minor stopping point on our last few ventures between 1950 and 2181. One reason is that it has been the area that coincided with several Fib Re-Tracements. (Example: .382 of 2181 to 1934, also a .786 re-trace of the drop from Monday's high 2048 to Tuesday's low of 1939). There are also overhead resistance in coinciding indexes (SOXX at 600, for example) that hit their upper levels at the same time the COMPX hit 2030. That affects it also. Trading channels also play a part. Just a short answer from someone who's still on the learning curve also. I hope you've had a chance to read some of the stuff on T/A. One thing you may want to remember is that lots of program trading is based upon many of the same T/A fundamentals that we talk about here. In other words, what is theory often becomes compelling group behavior when enough of the group buys into the theory. Just something to keep in mind. It is not a coincidence, IMO, when we stop an index at the perfect Fib re-trace points or trade within the parameters of trendlines. The MM's do help a bit, but many traders are reading similar charts and applying similar theory, and the end result is sometimes more order than would seem likely.

To: t2 who wrote (80928)	7/28/2001 11:31:50 AM
From: eichler	Read Replies (1) \| Respond to of 99985

Hi N.V. BTW, congrats on your cool post (and the others too on this thread this week - nice going!) FWIW, I see that we had a low two trading sessions after last Fri's New Moon, and now a rally up to the critical down-trend line. We are at the juncture where, a break out higher from here should spark a rally, or...a breakdown from here should continue the downtrend. Indicators (stochastics and adx) have once again turned positive so I am leaning more on the rally side scenario as opposed to breakdown. The significance of the 2030 approximate level is that is roughly the current location of the downtrend line at this point in time....so yeah, very significant currently.. I don't think 2080 will have any meaningful significance if we can now break up over the downtrend line on a closing basis. home.earthlink.net I'm thinking that if a rally indeed ignites at this point, I will be looking for a high around the full moon date of Aug. 4th. Best Regards, Eichler