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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 685.66

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Dec 5 4:00 PM EST

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To: James Strauss who wrote (24987)	9/7/1999 1:13:00 PM
From: Les H	Read Replies (1) of 99985

The double top in the LT Momentum Oscillator in 97-98 was supposed to presage a severe bear market. I saw it turn up briefly before the tops in July 98, July 99, and now. Since it's composed of an 11-month ROC and a 14-month ROC, the faster ROC is probably causing it to turn up as it is comparing against the market bottom of October 98. I saw the same condition in early July when the Coppock turned up.

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