Replies to post #8640 on MDA - Market Direction Analysis (MDA)

[pantmaker]

You rock thanks. The weekly has been bugging me.

Pants

[positiontrader]

Augie,

I think today is the day to buy.P/C almost 1,at the lower BB,trendline support.

Regards

Marc

[LG]

augieboo: Draw that upper trend line in as well...gg...makes a nice rising wedge...no?

And, keep an eye on the weekly technicals. While that lower trend line is providing one more bounce in conjunction with the oversold shorter time frame technicals, the weeklies suggest that COMPX RSL is getting long in the tooth.

Also note the COMPX weekly chart.The recent price high is in the neighborhood of the final falling resistance line from the March 2000 all time high. IF the March 2003 RSL is breach (the one illustrated on your chart) then I would watch Fib retrace levels from the Oct 2002 low in conjunction with the Oct 02 / March 03 Rising Support Line...

Note: All trend line comments based on "semi-log" charts.

Regards,
LG