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

To: donald sew who wrote (3283)	1/5/1999 11:32:00 AM
From: Arik T.G.	Read Replies (1) \| Respond to of 99985

Since 12/24 morning , the SPX and OEX have the infamous megaphone indecision pattern of slightly higher highs and slightly lower lows, meaning growing oscillation. On the current pattern the oscillations are even more nervous because the last one (yesterday), although greater in span, took half the time of its predecessors to complete. A break to one side should be quite dramatic. No indications so far to which side the market wants to break. ATG

To: donald sew who wrote (3283)	1/5/1999 4:13:00 PM
From: Robert Graham	Respond to of 99985

IMO your "stair-step" price pattern is good evidence that there is a type of consolidation price pattern that can have direction. I have always suspected this and have seen evidence of this on the charts that I have examined in the past on individual stocks. It is just that these type of "consolidation" patterns, for lack of a better label, are not documented in any book on TA. Any comments on this from anyone? Bob Graham