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

To: Debra Orlow who wrote (387)	12/4/1998 2:13:00 PM
From: Magnatizer	Respond to of 99985

Debra good play, keep an eye on it. Has potential to drop to the 26-27 area. ht david

To: Debra Orlow who wrote (387)	12/4/1998 2:18:00 PM
From: HairBall	Respond to of 99985

Debra and All: Well, that Dow Industrials upper (resistance) descending trend line will be more accurate if you go to the: Actual Intraday 15 Minute Interval Semi-Log Chart. Plot points starting with the high on 12/1, 12/2 and today so far and extend. For the lower (support) descending trend line use the lows of 12/1, 12/3 and extend. Question: Will SE be right and the upper trend line be penetrated today and beak out? I don't know. However, I am leaning toward a continuation of the descending trading channel until it is broken. So, I look for the Dow Industrials to head back down below 8900. Maybe as low as 8850 before finding intraday support. EDIT: However just as I posted this the NYSE tick is rising and the Dow is turning up...time will tell! I guess there could be some oscillations on the way down...<g> BWDIK Regards, LG