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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 659.03+1.0%Nov 21 4:00 PM EST

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To: bobby beara who wrote (17839)6/18/1999 8:39:00 PM
From: pater tenebrarum  Read Replies (3) of 99985
 
Bobby, i agree on the bond. initially i feared the bond rally may start as a 'safe haven' type situation due to a sharp downturn in stocks. i remember having said though, that a bond rally on the back of benign economic data would be supportive for stocks, and this is what we seem to have here. what worries me about AXP is that it's been rejected at the 50-dma, otherwise the failed h&s is looking great - bounced exactly off the 100-dma, twice. re: XCI-where can i get a list of the components? i know about this triangle breakout problem, Prechter's minions mentioned it somewhere. but the XCI sure looks like it wants to go up - with a little bit of imagination a complex reverse h&s can even be seen. maybe a bit overbought short term.

regards,

hb
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