MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.92

-0.7%

Dec 31 4:00 PM EST

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To: HairBall who wrote (24553)	9/2/1999 12:35:00 PM
From: Berney	of 99985

LG and ALL, OEX is painting an interesting picture of the situation. The 60-min chart has a brutal down trend line, which is dropping fast, and will shortly be at the horizontal resistance at about 692. Moreover, it sure looks like a nasty pennant with the base at about 685. Nothing to say it will break down, but with a high on the pennant at about 725, a failure would project to about 645. Unforunately, I don't like my position as I'm trapped in the Softer Side of S. Nevertheless, if we break the pennant, I will get a Class Bye-Bye. FWIW Berney

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