MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.70

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Nov 26 4:00 PM EST

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To: dennis michael patterson who wrote (21181)	7/27/1999 9:44:00 AM
From: pater tenebrarum	Read Replies (1) of 99985

Dennis, one thing i will be looking for is whether the bounce is met with skepticism by options traders; if it is, it may turn out to be strong. however, if enthusiasm returns fast, i expect it to be weak. of course i will watch the other indicators you mention as well. as many have pointed out, important support levels have largely held in the indices and leading stocks. for the medium term i am still expecting lower prices, but even a last gasp rally in late august wouldn't surprise me. the divergence of the a/d line virtually guarantees a sharp break in prices later this year. however, it is not useful for timing such a decline. more later. regards, hb

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