MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.03

+1.0%

Nov 21 4:00 PM EST

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To: LTK007 who wrote (24222)	8/31/1999 12:18:00 AM
From: Vitas	Read Replies (2) of 99985

I think the important thing here is to realize the current structure of the McClellan summation is one under which substantial declines have occurred and to position accordingly. It shows a loss of momentum - higher market highs on lower peaks in the summation. I was looking for this in March, but the key ingredient here may be the roughly 330 trading days from the initial peak. This time around the a-d line is doing it - it is breaking down, breaking trendlines and support levels. The market is following the 55 calendar day "crash" pattern. And the 1% ema of a-d never got above zero since the October '98 low, an extremely strange fact given the percentage gains in the averages. Let's see what develops. Vitas

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