Replies to post #5627 on MDA - Market Direction Analysis (MDA)

[WinLoseOrDraw]

real estate, good luck, that was yesterday for me. today we turn in the final papers and chain me to the mother of all mortgages.

[augieboo]

LG, would you please comment on this when you have a chance?

I have seen various charts lately which purport to show a strong falling wedge in various of the indices. The thing is, I think they are drawn incorrectly in that they do not take into account the pivot high from which the last major CIT occurred.

Here is an example of what appears to me to be the incorrect charting method that some are using:


Here is how I think that chart should be drawn:

[Ek]

LG: If Naz closes above 1266, 61.8% retrace of the oct '02 low to the dec '02 high, does that change the notion of another leg down ? i am wondering if i should get in now, or wait for confirmation.

ek