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

To: HairBall who wrote (13917)	5/14/1999 1:29:00 PM
From: StockOperator	Read Replies (2) \| Respond to of 99985

LG, the secret is recognizing the trend change as soon as possible and on occasion...in advance! I agree. And what a challenge that is! Regards, SO

To: HairBall who wrote (13917)	5/14/1999 1:54:00 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

The COMPX put in a top on 4/13, then repelled sharply. It then reversed and put in a sharp rally into 4/27 putting in a new high, before pulling back sharply again. Then it rallied once again into 5/13, (yesterday) where it found a concrete ceiling at the 4/13 top. Some would call this a triple top... I pointed out this SRL yesterday...as a key resistance point to watch. The Dow 30 Industrial has gone through 4 support areas so far today and is currently finding support on a fifth. They will be getting further apart and more important from this point on. Which one will hold??? The Dow Indices have been working down through multiple SRLs, today. The TYX rose strongly this AM above its rising resistance line since the Oct low. It has fallen back under for now and is bouncing along the underside of that line. That pullback allowed some pressure off the intraday shorter term timing model stochastic to come back out of the overbought range and dip into the oversold range. It is now hovering above the oversold range. There is room for more upside...but I would not be surprised to see some retracement. Dow Transports...AMR being sued by the Gov, Boeing cutting back 35% of the work force...anyone think someone new about this while the Transports were being run up in the face of rising energy prices??? Regards, LG