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

To: HairBall who wrote (1634)	12/14/1998 12:44:00 AM
From: Doug R	Read Replies (1) \| Respond to of 99985

LG, I use IND intraday highs and lows. Closes don't seem to be as relevant as far as supply/demand is reflected in trendline analysis. Doug R

To: HairBall who wrote (1634)	12/14/1998 1:00:00 AM
From: Moominoid	Read Replies (1) \| Respond to of 99985

Australian All Ordinaries Index closed for the day at 2676. Down 2%. Cut below 34 day MA for first time off October low. Up till now 13dma provided support. Latter started declining too. Still above 34 week mean (just) (which has been declining since September). Top looks similar to last three big tops since mid-97 - Oct97, Apr98, Jul 98. This peak lower than the previous two. So could we expect a lower low than October? Other features are similar (eg Bollinger Bands and own TA method to show peak). David