MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

+0.4%

4:00 PM EST

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To: pater tenebrarum who wrote (20601)	7/20/1999 5:43:00 PM
From: John Madarasz	Read Replies (3) of 99985

LOL indeed! This market is reminiscent of the card game that goes round and round, until someone finally has enough and throws down a hand just to get the chips off the table and move into the next deal. Could what we are seeing here be some big players forcing a new hand? Maybe profit taking to force another move up. I don't want to sound overly bullish here, but the COMP has been travelling outside it's moving average envelope and price channel since 6/29/99. This is long overdue. Healthy "correction" before the next leg up? Here's to the inimitable wall of worry. Also, A special thanks to Don for all his help with a very readable and understandable "index update"; and a thank you to all the other contributors who have offered their time and thoughts and helped me to learn. Very Best Wishes to All, John Madarasz

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