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

To: bearshark who wrote (11043)	4/14/1999 7:43:00 PM
From: Casaubon	Read Replies (1) \| Respond to of 99985

non block ("dumb money"?) chasing block ("smart") money? Today seemed like one of those "distribution" days William O'Neil spoke about, which precede large downside corrections. Any and all comments to this are encouraged.

To: bearshark who wrote (11043)	4/14/1999 10:13:00 PM
From: bearshark	Respond to of 99985

I really like this chart. beta.iqc.com The period just before August is where the inverted head & shoulder began on the INDU. A rough calculation from the bottom in September and October and the neck at the end of November gives us the 2,000 point projected move of the INDU. That is added to the end of November number of about 9400 to give us the 11400 projection that has been mentioned frequently. In January, the INDU tried to break out of the formation, fell back for a test, and then got caught up in a symmetrical triangle. The triangle is a little sloppy but the volume is perfect. It declines from the beginning of the triangle in January until the beginning of March. By March 2 or so, the INDU tests the bottom of the triangle, doesn't like it, and breaks out of the triangle in two days with increased volume. Then a little hump is built, as often happens, and a retest of the triangle. This time it stopped at 9625--the tops of the triangle--and moved up towards its goal of 11000 plus. Yours truly, Chatty Bearshark