MDA - Market Direction Analysis

[LG]

OK WLorD: Here you go, if I can get this posted before it
breaks...gg

Bearish pennant in the works...My weekly model is still in
overbought; my daily model has begun to roll down out of
overbought. My intraday modles are mixed. I always prefer when
they all line up, but that just does not happen enough, so you
must learn to interpret how they affect one another and when. My
130 and 65 minute models are still in the oversold range pulled
down by yesterday’s expected decline. However as shorter-term
models often do, they cycle during moves. What can I extrapolate
from the mixed models?

Given the current price actions location (23.6% fib area 27.70
and just above the 3/12 RSL) I would look for the QQQ (and other
COMPX Indices) to drop out of their bearish intra-day
consolidation patterns and continue Friday’s move down. Once the
3/12 RSL is breached we should see some initial acceleration.
Keep in mind that my intraday models are mixed and the 130 and
65min models will begin to exhibit influence. This influence is
likely going to come in the form a test for resistance of the
3/12 RSL from underneath.





Regards,
LG