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

To: NickSE who wrote (4649)	1/24/1999 3:00:00 PM
From: donald sew	Read Replies (1) \| Respond to of 99985

Orbit, Thanks alot for the great chart. If you saw my earlier INDEX UPDATE it also mentioned the WEDGE that formed right before that PITCHFORK took over. Chart formations like TRIANGLES, WEDGES, FLAGS, RECTANGLEs commonly lead to strong movements once the formation is resolved. In the case of CAT it implies that the once the WEDGE disolved the movement was strong enough to push the price down to the LOWER PITCHFORK TRENDLINE. As mentioned earlier, the DOW, right now is possibly in the process of making a similar movement from a WEDGE into a DECLINING FORKLIFT. So the question now is if the WEDGE on the DOW is disolved will it also go to the LOWER PITCHFORK TRENDLINE, which implies a substantial drop to approximately the low 8000 level. If it is not too much, could you add the WEDGE to the chart on CAT. The coordinates: UPPER TRENDLINE - connect highs of 10/20(near 49) & 11/5(near 50) LOWER TRENDLINE - connect lows of 10/29(near 42.7) & 11/11(near 45) This is getting interesting. Seeya