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

To: HairBall who wrote (81383)	8/13/2001 10:09:27 AM
From: William	Respond to of 99985

I saw it starting around the end of May when COMPX topped at 2328. The lower line is not as horizontal as a perfect descending triangle would show, but close. Regarding volume, does TA consider seasonal factor?

To: HairBall who wrote (81383)	8/13/2001 11:11:04 AM
From: Temple Williams	Read Replies (1) \| Respond to of 99985

Hi LG: Been a while since I posted anything. Enjoying a nice summer. I think the index moves in a fairly narrow range on Monday ... sideways ... in a stretchmark that lets the big money make decisions as to whether or not a serious bottom was reached this past week. Most of Friday, I was convinced the bottom had been made. Now ... I don't think so. I believe we go higher this week ... and we should break back above 1220.00 with ease ... perhaps even threaten the highs of early July ... but it's a fake out, shakeout, that targets lows near 1150.00 Spoos as the September contracts expire on the 21st. It will be a volatile 5 weeks in front of us. Here's something to consider: during the long bull market of the 80's and 90's ... October became a month to be feared. Now we have been in a bear market since March of 2000 ... almost a year and a half, with (imo) another 2 years to go ... and I believe that October will be a month to be feared by the bears, not the bulls. The coin has flipped. Trader's brain cells need to respect this alternation. From the end of September into early January, the market will make a spectacular (fake) run at new highs ... and fail miserably. I have updated the daily and weekly bars at the free site at sellnow.net and here's a 150-min bars chart that does not appear at that site.... sellnow.net