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

To: John Madarasz who wrote (82943)	3/29/2002 2:03:12 PM
From: KymarFye	Respond to of 99985

Thanks... that's what I thought you were implying. Have a great set of holidays yerself.

To: John Madarasz who wrote (82943)	3/29/2002 2:44:52 PM
From: HairBall	Respond to of 99985

JM: Nice chart again... You brought a smile to my face with the wedge illustrated originating from the Sept01 lows...<g> That is the formation to watch for the next IT top. However, I use a different mix of indicators. My models allow for that wedge to play out a little further and possible see a resistance line adjustment. Of course, the market will let us know...<g> I'll post a chart later this holiday weekend to illustrate what I am seeing. Interesting stuff happening on the COMPX (Naz Comp) chart as well with regards to some long-term formations and a set of converging trend lines from the Sept01 low and the Jan02 high. I am reluctant to call them a triangle formation just yet. While the NYSE Comp has rallied off the Sept01 lows to a new high in march and consolidated, the NAZ Comp has continued to consolidate the move from the Sept01 low to the Jan02 high. The month of April should be an interesting and fun month to trade, IMO. I have heard one "I get paid for my stuff" prognosticator say he expects sideways movement for a while. Personally, I am going to be surprised if we don't see a fairly strong move during the month of April. Up or down does not matter to me as much as seeing the market moving. A static market forces the stock picks (long or short) to be much more refined and puts a large dent in the justification for sitting in front of a screen all day...<g> Regards, LG