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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

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To: Smooth Drive who wrote (20730)	7/22/1999 5:47:00 AM
From: HairBall	Read Replies (1) of 99985

Eric Stevens: Thanks for posting that chart. My own P&F chart is also in Os, but not as close as yours to giving a double bottom sell signal. Of course I use percentages with mine, but then again I am no expert with P&F. I would have important support via my P&F chart at 1650. In addition, per my traditional charting methods I have important support at 1660, the previous high on 4/27. If these fail, this will indeed be a strong signal a major top may already be in. The next major support would be the rising support lines off the Oct 98 lows and the "must hold" support level would be the low set in April. If I were not getting supportive signals from my mid/lng-term oscillator I would be less secure that support will hold this time around. Of course, nothing is 100%, but I expecting this down turn to reverse in the near future. Just in case, everyone should be keeping an eye on the major support areas and none should be investing or trading without stop loss measures, no matter what side of the Market one is taking. Regards, LG Disclaimer: The above is my opinion only and I reserve the right to be wrong. Do not base any investment decision solely on anyone person's views or analysis. Do your own research and take responsibility for your investment decisions.

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