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

To: Steve Swanson who wrote (12760)5/3/1999 5:29:00 PM
From: Impristine  Read Replies (1) | Respond to of 99985
 
what could happen tomorrow,
merry christmas meeker
could downgrade,
and forrester research
could burn down,
and Keith Benjamin,
could set a 140 billion
dollar price target,
and Yahoo could break,
it's uptrend line,
and the Bald Man From Mars,
could pay off the Margin Man,
and the Street.com could
use stock to buy a bank,
and the Fed could go public,
and Microsoft could develop,
thermonuclear weapons,
and Merry Christmas Lynch,
could start a daytrading firm,
@500 dollars per trade,
and Datek could go public,
and Goldman Sachs could,
be on the ask.....



To: Steve Swanson who wrote (12760)5/3/1999 7:29:00 PM
From: donald sew  Respond to of 99985
 
Steve,

If you check the charts on the MDA WEBSITE the trendlines are drawn in. Which connects the lows since OCT.

One could argue that once a trendline is pierced a new trendline should be drawn. That depends if it was a confirmed break of the trendline, which I would prefer to see 3-5 days below the trendline to say it is confirmed. In the 2 cases in 2 weeks where the trendline was pierced, the NAZ and SPX rebounded above the trendline
not confirming the break. However, my opinion is that that since the trendline was pierced temporarily twice in 2 weeks, it is giving a
significant hint of weakness to come, and with the likihood of that trendline failing.

Hope, I was able to answer your question.

seeya


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