Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: HairBall who wrote (1928)	12/15/1998 4:42:00 PM
From: dennis michael patterson	Read Replies (1) \| Respond to of 99985

LG. What do you use for software? And do you find divergences/major differences between the INDU and NDX? I almost always trade the big cap tech stocks, and hold a couple of NYSE issues for the LT, and an occasional trade.

To: HairBall who wrote (1928)	12/15/1998 7:46:00 PM
From: stockycd	Read Replies (1) \| Respond to of 99985

LG, Great post! We are in agreement. Chris

To: HairBall who wrote (1928)	12/15/1998 11:43:00 PM
From: Jon K.	Read Replies (2) \| Respond to of 99985

The Market as measured by the Dow Industrials may well continue up some more tomorrow. However, I suspect the current upper (resistance) descending trend line should hold. To view this trend line, use the DJI (Dow Industrials Actual Data) daily chart, connect the high of 11/30 & 12/8 and extend to the right. A one-day projection for that trend line will be in the approximate area of 8850. That will be a trend line to watch should the IND/DJI trend further up tomorrow. Note: A significant breach above that trend line may negate the following expectation. I am expecting the Market as measured by the Dow Industrials to head back down from that trend line, if not sooner. Support areas will again be the 200 day SMA at 8716 (today's close), the 50 day SMA at 8698 (today's close) and then the price action cluster created by a previous Bull Flag. Range is from the top of the pole at 8652 to the lows of the last day before the break out at 8328. I will just call resistance at the 8500 area (+/-). Look across the chart in this range and you will be able to see the previous Bull Flag. LG, I read this 4 times (really), still don't get it <gg> I understood this much; the market will go up some tomorrow. After that... flag and SMA... just doesn't get through my thick skull. Could you explain one more time please.