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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 674.96

+0.9%

Nov 25 4:00 PM EST

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To: pater tenebrarum who wrote (17997)	6/21/1999 8:13:00 AM
From: HairBall	Read Replies (3) of 99985

heinz: Yes, I am concerned. I originally expect this rotational correction to eventually move beyond just a rotation and lead to an overall decline. I expected this decline to move major Indices back into their respective multi year rising trading channels. Both the INDU has one and so does the COMPX. (Not to mention the 25-year rising channel for the NYA-COMPX Composite.) The resolution or negation of several bearish formations gave way to bullish chart formations. This changed my expectation. However, I felt a much deeper "overall" correction would have been healthier for the Market in general. Now, I expect the Market will mount a rally from the various bullish consolidation patterns. This should propel the Market even further above the previous multi year trading channels. I believe this places the Market at even greater risk to more of a "crash" scenario later this year. Note: One still needs to remain cautious with the recent weakness displayed in many bellwether techs and inuts. I believe waiting for the actual resolution of the formations would be prudent. Of course with the cautious approach one will always be subject to leaving a little on the table when the Market finally confirms direction, but as always that is the cost of insurance. Regards, LG Disclaimer: My posts are my opinions only and I reserve the right to be wrong on occasion. Do not base any investment decision solely on anyone's views or analysis. Do your own research and take responsibility for your own investment decisions.

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