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

To: Smooth Drive who wrote (4212)	1/19/1999 11:34:00 AM
From: donald sew	Read Replies (3) \| Respond to of 99985

INDEX UPDATE -------------------------- It appears that the DOW has again broke the LOWER TRENDLINE of the WEDGE to the downside. That would be twice in 3 days, not a great sign of upward movement. Also, once such trendline is broken to the downside it becomes a resistance line on the up side. If this WEDGE LOWER TRENDLINE is not broken to the upside soon(within days) it will further endorse the negativity. As previously stated a significant break of an important chart pattern, such as this wedge, is commonly followed by a strong move. Please also keep in mind that the 55 day FIB TOP-to-TOP day was this SUNDAY. Concerning the fudge factor for the 55 DAY TOP-TOP, I normally use 2-3 trading days, but other TA's say about 5 days. Unfortunately, I do not have statistical data to accurately determine the fudge factor for this specific indicator. From now until the first week of FEB, there are just a heck of alot of statistical turning points: WEDGE, PITCHFORK, GANN DATES, 55 DAY FIB TOP. Can anyone supply GANN and BRADLEY dates??? If the market moves up enough to create a CLASS SELL signal per my system, without breaking the WEDGE to the upside and within this time period(up to the first week of FEB) I will definitely be loading up on PUTs. Seeya