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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 685.66

+0.2%

Dec 5 4:00 PM EST

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To: HairBall who wrote (22003)	8/4/1999 11:00:00 AM
From: HairBall	Read Replies (2) of 99985

To All: The INDU is being used to diverge and drawn individual investors in. (IMO) My OMC is not confirming this move, at least not yet! I would be using this pop to get neutral (cash). Risk money going short, should have already been short twelve trading days ago when the rising wedge in my OMC signaled this down turn. Noted in my “chart breakdown” update prior to the break to the norm of the formation. With divergent charts between the TYX and my OMC, the only way I know both could be satisfied would be for a de-coupling as mentioned in my post yesterday on this thread. We may be witnessing the beginning of that de-coupling today. That is a way for both to go down. This would be triggered by flight to safety as the Market heads lower. The INDU and my OMC as several Indices have found support at the descending upper trend line "extended right" of the previous bullish triangle formations. However, I suggest that one pays attention to the action of the TRAN and RUT. Last year these Indices where leading indicators. And give a brief check of the VGY! Of course, I could be wrong! Caution is the operative word for an aggressive/conservative investor like me! <g> EDIT: The scenario regarding the TYX and OMC going down in unison, is merely speculative, based on previous experience. 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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