Replies to post #10158 on MDA - Market Direction Analysis (MDA)

[augieboo]

COMP Charts (part 2)

Assuming this is a true break of the Mar '03 RSL,
how far can/should the COMP fall?





Here's my last WAG on the subject. Might as well recycle
it now to avoid wasting precious pixels. {g}




Here is what the previous trend line adjustments look like to
my doggie eyes. Note that there has been a pattern, albeit
quite short and thus without statistical significance, of
three trend line adjustments, (small), followed by a larger
realignment...





Finally, all of the foregoing leaves the question of longer-
term stuff. I think this bull market still has legs, once a
decent correction is taken care of so the boyz can reload
their inventory on the cheap.

How high can we go?

Here are some WAG-projections, based on resistance levels,
fib retracements, and the like: