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: HairBall who wrote (5077)	1/31/1999 10:01:00 AM
From: Debra Orlow	Read Replies (1) \| Respond to of 99985

LG, that's probably where I got it.......<g>

To: HairBall who wrote (5077)	1/31/1999 10:24:00 AM
From: donald sew	Read Replies (1) \| Respond to of 99985

Larry, I was checking out the BULLISH WEDGE you had previously mentioned and notice (per actual chart) that the upper trendline was broken by about 50 points to the upside on FRIDAY. It is understood that a break of a WEDGE of other formation are powerful signals and is commonly followed by immediate and quick continuation(lets say 1-5 days). If this is a confirmed break to the upside, it would imply that the market is heading to at least a retest of 8650 or new highs. However, since my short-term technicals are mostly in the CLASS SELL category it is hinting that Fridays upswing is just possibly a single violation. Larry, here is my question. With the break of the WEDGE to the upside, lets say that MON & TUE are relatively flat and the DOW does not return into the WEDGE which is declining - how would you interpret that in light of lack of a strong quick continuation. Of course if tomorrow is down that would just bring it back into the parameters of the WEDGE unless it broke the lower trendline which is around 9050? Im more inclined to say that a period of flatness above the upper trendline could imply that the WEDGE may be negated. any idea? seeya