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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 687.70

+0.7%

Jan 5 4:00 PM EST

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To: HairBall who wrote (171)	12/3/1998 2:05:00 PM
From: donald sew	of 99985

LG, 8955 was broken to the downside, and I will get a a CLASS 1 BUY SIGNAL at todays low,which now means that the buy-in time is tomorrows lows or could start immediately after todays lows. I came to the conclusion of my CLASS 1 BUY SIGNAL based on some rough calculations since by charts are still down. darnit. The next strong support line is at 8750, but still do not think that we will get that low. At this time 8900 could hold - darn Im really lost without my charts. For the last 3 days, even though the market had strong intraday swings, the market really hasnt gone anywhere which leads me to believe that may be forming that STAIRSTEP. The reason I dont think that the DOW will test 8750 range is due to the strength of the NAZ, and its divergence from teh DOW. Hove to leave again for the rest of the day, but may be able to get back by 3:30. Seeya

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