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

To: donald sew who wrote (4820)	1/28/1999 9:23:00 AM
From: HairBall	Respond to of 99985

donald: I believe flags/pennants always need a pole. No pole...I would look to triangles or wedges for the pattern call! IMHO. BWDIK Regards, LG

To: donald sew who wrote (4820)	1/28/1999 10:28:00 AM
From: HairBall	Respond to of 99985

donald: I just wanted to say, if I disagree with you on something it is never intended to be disrespectful. I always take a good look at others contributions. I look to you and others for shorter-term analysis. If I disagree with someone and do not say it, I am being disingenuous. I may well be wrong, but that is why we started this thread for a healthy exchange of ideas pro/con AND to learn from one another! and as always...BWDIK Regards, LG

To: donald sew who wrote (4820)	1/28/1999 11:31:00 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

donald: Taking an additional look at the "falling wedge" (bullish) or "descending triangle" (bearish) formations. Speaking strictly from my own perspective...I usually interpret from my primary charting platform which is the IND (Dow Industrials Theoretical) Daily Semi-Log Chart, which will not support the "descending triangle" view. However, I plotted out what you use, the DJI (Dow Industrial Actual) Daily Linear Chart. If I draw the lower trend line using the lows of 1/14 and 1/22 and discount the 1/25 penetration as just a violation, not a trend line adjustment, the pattern could well be a "descending triangle" which would be bearish. I guess if no further adjustments are merited...if the Market goes up it was a "falling wedge" or a failed “descending triangle” and if the Market tanks it was a "descending triangle" or a failed "falling wedge"....<g> BWDIK Regards, LG