MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 687.72

+0.7%

Jan 5 4:00 PM EST

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To: donald sew who wrote (26186)	9/17/1999 3:18:00 PM
From: Lee Lichterman III	of 99985

I remember that. I just walked in so I am in no shape to call this yet as I am not caught up nor do I have a feel for the way it has traded so far. First glance in day trading style and I see conflicting patterns. Possible stall/failure here for a dip down but also on the half hour ( I use 24 minute) a possible inverted H&S for another strong leg up. Still longer out, I still see another leg down. I will clarify more later but basically TYX has been in a mid term down cycle and is finishing a short term up cycle. Therefore ithe next few weeks, it should base then start to head up again, bad for teh market. The indexes also show a short term bounce likely then the weekly charts point to more weakness ahead. Some of the stocks that look most likely to fail are surprising so either my charts are bad or else there are going to be some surprised people a month out. Some of the strongest stocks this last up cycle look primed to fall hard. Need to try and catch up, Good Luck, Lee

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