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: Debra Orlow who wrote (2246)	12/18/1998 9:45:00 AM
From: epicure	Read Replies (1) \| Respond to of 99985

Look at that trin

To: Debra Orlow who wrote (2246)	12/18/1998 9:54:00 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

Debra and All: The Market as Measured by the DJI (Dow Industrials Actual Data) The short-term upper (resistance) descending trend line was breached yesterday. This could portend higher prices, however looking at the 30-Minute Semi-Log Chart, one can see a rising wedge formation. To view the lower (support) ascending trend line, connect the lows of 12/15 & 12/16 and extend. To view the upper (resistance) ascending trend line, connect the highs of 12/16 and 12/17 and extend. A one day projection of the upper ascending trend line begins the day at approximately 8900 and rises slightly during the trading day. The lower ascending trend line begins the day at approximately 8800 and rises during the day. This rising wedge pattern is a bearish pattern and a break to the norm would be down. However, chart patterns are not 100%. A negating break to the upside (not just a violating trend line adjustment) will find next resistance at the price action areas of 8950, 9000, 9050, 9100 and would portend a continuation of higher prices. A break to the norm would be down and would require continuation moves below the lows of 12/14-15 to complete the pattern. Please note, these patterns have in the recent past morphed into bearish flags which extends the life of this pattern. (All Disclaimers Apply) BWDIK Regards, LG