MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.08

-0.8%

Nov 18 4:00 PM EST

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To: HairBall who wrote (17413)	6/15/1999 1:11:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

LG, i too am watching the GE chart with great interest...although i am very skeptical at the moment, i admit that as long as GE, MSFT and IBM do not really break to the downside from their respective chart formations an extremely important internal technical component of the market must be considered healthy. since so many other important stocks and sectors have already produced rather ugly chart patterns, i suspect that some money has been shifted into these stalwarts as they are perceived to be "safe", thus propping them up somewhat. should they start failing us, i would expect a really serious decline to unfold. as long as they hold up the correction should not go too far if and when it resumes. regards, hb

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