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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.08

-0.8%

Nov 18 4:00 PM EST

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To: HairBall who wrote (21277)	7/28/1999 12:33:00 PM
From: Lee Lichterman III	Read Replies (2) of 99985

LG - I was getting ready to do a few things and had a chance to come home and sneak a peak. IYO, is the OEX finishing the shoulder of an inverted H&S on the 24 minute bars or on the hourly, forming a bearish rising wedge? TRIN is behaving which is bullish but the stocks are not doing much except for the SOX. Many of the stocks I track as leading indicators are lagging or down so I am starting to lean to this being a very short rally. There does seem to be some underlying strength though as the TICK is swinging negative but the indexes are holding up. No time to dig deep into it to see how they are doing so but it is odd that GE, WCOM and MSFT are not strong so they must be using something else to prop them up unless the SOX is doing it by itself with INTC, MU etc. I believe the QQQ is leading the NDX because it lagged yesterday. Just catching up is all. EDIT - Getting squid errors so not sure if this will post or not Good Luck, Lee

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