MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

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To: j.o. who wrote (22692)	8/11/1999 2:57:00 PM
From: HairBall	Read Replies (1) of 99985

j.o.: Appears the downtrend resistance lines are being breached today on the OMC, INDU and the COMPX. However, the NYA and the SPX are still well below. This demonstrates the influence the NYSE issues have on the SPX. There is an alternate resistance line for the NYA and SPX, adjusted in. It requires using the high of 7/19 & 7/27 and ignoring the high on 7/28. I don't like doing this, but in this case it may be applicable. Follow through is now needed. I still suspect a consolidation began yesterday.... Regards, LG

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