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

To: SE who wrote (1272)	12/10/1998 9:53:00 PM
From: HairBall	Read Replies (2) \| Respond to of 99985

SE: I was talking to Donald, and he thinks we could drop as much as another 300 points on the DJI before his quitar gets over extended. I think conventional wisdom says the neckline on the DJI daily chart regarding the H&S pattern was broken today. But, I use the dip of the first shoulder before the rise to the head for my break. That would mean a move below approx. 8750, with next support coming in the 8500 area. That would be somewhat in line with Donald's guitar extremes. Then Donald expects at least a retrace. To soon for me to know, so I will defer. Here is what I see for tomorrow. I pop up in the morning, maybe till noon time to resolve some bullish short term divergences that have krept into the picture. The pop might only last till 10 or 11 cst. Then back to the downside. This goose is cooked. I thought that a few days ago, and I think so even more now. How do you make calls like that...I am lucky if I am right by the end of the day...<g> BWDIK Regards, LG