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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.76

-1.1%

Dec 12 4:00 PM EST

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To: dennis michael patterson who wrote (3135)	12/31/1998 2:56:00 AM
From: Lee Lichterman III	of 99985

Will miss Favors but I have to agree with others that he was too wishy washy and liked to cover up his mistakes while gloating about his good calls. Looking at my new charts and Chris broght up a good point about the 2 year line resistance. I shot some forks across the Indexes and IF we do turn here which all but the DOW have a good shot at doing since the NASDAQ, SPX and OEX are all at high fork tong resistance, I have first support lines based on forks and ignoring regular horizontal supports of ... 1200 SPX with next one around 1150; NASDAQ 2025; OEX 600. The thing that bothers me is how the DOW is at a double top here and I would hate to see that occur without at least penetrating it a little. Maybe we could just take a rest, who knows. Anyway, every sector and stock is showing over bought or close enough to call it so. I only saw 2 sectors that based on TA could rally but their FA is real bad so I wouldn't count on them to keep this bull running short term. Good Luck, Lee

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