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

To: Compadre who wrote (14478)5/20/1999 12:28:00 PM
From: HairBall  Read Replies (1) | Respond to of 99985
 
Jaime choy: Actually the DJI is in a sell via my short term timing model, but it needs to penetrate 10900 to follow through. When trading ranges are in effect, I always look for support or resistance areas that have to give to allow follow through in either direction.

The DJI has been oscillating between two SRLs for much of today's trading with a slight penetration of the upper SRL earlier today. (SRLs = Support/Resistance Lines)

The DOT and NDX are also in sells, for now...<g>

Regards,
LG



To: Compadre who wrote (14478)5/20/1999 12:36:00 PM
From: HairBall  Respond to of 99985
 
jaime choy: Failed to mention in the last post...the TYX has been bouncing along the rising intraday support line I mentioned to Donald in a earlier post today.

The divergence is that the lows are rising and the highs are falling...see the 5-min bars. I guess you could call it a tightening coil, but which way is it going to spring? So far the SRL is holding!

Regards,
LG


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