MDA - Market Direction Analysis

[positiontrader]

Augie,

Great Chart.Do you remember this post from the past about inverse head and shoulder patterns?

Posted by: positiontrader
In reply to: augieboo who wrote msg# 5802 Date:3/17/2003 12:09:49 PM
Post #of 8601

Augie,

I posted this on Zeevs BoardPosted by: positiontrader
In reply to: Zeev Hed who wrote msg# 87472 Date:3/16/2003 11:58:13 AM
Post #of 87786

Zeev,

You may recall I took off my horns and had given up on my "through the 200 day MA of the NDX and not look back" scenerio until last Wed.I even had my bear suit on and was about to zip it up.On Thursday I put back on my horns and watched consolidation occur in the market on Friday.I still may be wrong. I have only been learning now for a year.For sure I was at least 2 weeks early in the call.

The 10 day TRIN is at the highest level I could recall.That high level normally
means at least a tradable rally is coming.

IMHO I still see a reverse head and shoulders pattern with a very distorted right shoulder.Just looking at the NDX chart do you see what I see or am I way off base in my reading?

Regards

Marc