Replies to post #4569 on MDA - Market Direction Analysis (MDA)

[positiontrader]

Augie,

I went back to cash after getting burned today in the long position.The headfake upward fooled me.Do you think we will hold support at 978 on the NDX?If not look out below.

Regards

Marc

[Paul Fakler]

Augie, you have more indicators than I can shake a stick at as well! Thanks for the post, it helps. I don't think 1320 will hold tomorrow -- not even for the first hour after open -- but if it does I may start lightening up my short position a bit. Otherwise I will follow my original plan and ride down the next leg and start covering towards the middle/end of next week. Time to have another beer.

Thanks,

Paul.