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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 668.73

+1.5%

Nov 24 4:00 PM EST

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To: sandy carter who wrote (22523)	8/9/1999 2:21:00 PM
From: bobby beara	Read Replies (1) of 99985

Sandy, the fact that 30 year bond rates gapped to a new high and broke resistance is not good for stocks, we will have to see if supply remains in control here as bond sentiment has been in the most bullish territory (fewest bulls since 1987) for over two months now. The best divergence lately that tipped traders off to this decline was the bearish divergence in the summation index, which put in a lower high on July 20th and the Oscillator went negative, was an immediate signal to go short and get out, confirmed by the low vix and extreme call buying. now the market is in no mans land, bulls and bears are pretty even-steven - no divergences to sink your teeth in. anybody been following the developing bear flag on sunw, i noticed this guy is looking too. members.home.net bb

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