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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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To: Haim R. Branisteanu who wrote (17275)	6/14/1999 5:00:00 PM
From: HairBall	Read Replies (1) of 99985

Haim: The Market began topping in April as expected. The DOT Index topped on April 13th, the very day a well known SI poster came on this thread and blasted not only me, but many on this thread for being bearish. The very next day a rapid quick pull back began to take place. The COMPX rebounded to put in its high on April 27th two weeks later. The DOW Indexes benefiting from flight to safer havens, rallied as the above Indexes began their struggling decline. However, the DOW Indexes as measured by the COMP (Dow 65 Composite) peaked exactly one month later on May 13th. Using an evenly weighted composite of the NYA and COMPX the overall Market topped on April 26th. The TYX has been on a steady rise since Oct 5, 1998. Oscillating up within a rising wedge formation until last Thursday where it pop out and above the wedge. Struggling at the next resistance point Thursday at 6.07/6.08 and then on Friday popping above and rising into firmer resistance at the close of (12/8/97 - 6.134), but managing to close at 6.135. (All numbers per QCharts/Qfeed as my usual source is not available to me at this time.) Regards, LG

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