MDA - Market Direction Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: HairBall who wrote (16447)	6/8/1999 5:43:00 PM
From: j.o.	Read Replies (2) of 99985

Mais c'est incroyable! Just when no one's looking, the S&P and Nasdaq quietly close below the 50-d EMA!! Sneaky buggers! Isn't that just like a market to squeeze everyone long and then reverse? Yes of course it is, and it should remind us that there are too many daytraders in this market looking for the quick kill. When that's the case you will always get a lot of situations where the technicals fail you at key levels. That's why I didn't hold so strictly to the 1321 level in the S&P for the cap on wave 4. While we will watch closely for confirmation tomorrow, it looks like we are still on track for another downmove. I will take another look at the charts and try to count some waves for my post tomorrow. But the market asserts itself eventually, and this one has claws, not hooves....<gggg> j.o.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next