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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 685.69+0.2%Dec 5 4:00 PM EST
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To: HairBall who wrote (22177)8/5/1999 8:44:00 AM
From: Lee Lichterman III  Read Replies (2) of 99985
 
My charts have been updated at both sites and I also updated the weekly charts since many have broken below the middle tines and others are at possible bounce points.

I would like to see some panic soon. I can't believe the dollar, the banking sector, retail etc are diving and still there is no fear in the market. Until there is some sign of worry, we will keep grinding down. I have rarely seen a reversal inthe market until there is panic, over whelming bearishness on the news and a time article like the one I have framed inmy office from September asking "is the boom over?" with a picture of people in party hats falling over the DOW chart cliff. <g> That was a sign the bottom was near. Until I see something of this sort, I think I am bearish and will keep lurking the magazine racks. <ggg>

Last nights scans pulled up so many over sold stocks and indexes, I couldn't fit them on my screen to post on my site. I had to just use the top 2/3 of the scan to post and leave the rest off. We need a bounce here soonbut I still don't see any signs we will get it yet. Maybe tomorrow's economic data will be friendlier than expected or doctored to at least appear that way only to be revised later. <ng>

Good Luck,

Lee
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