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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 690.270.0%Dec 26 4:00 PM EST
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To: pater tenebrarum who wrote (27725)9/28/1999 6:20:00 PM
From: donald sew  Read Replies (1) of 99985
 
Heinz,

What is very interesting is that due to the strong intraday rally, my short-term technicals for the DOW/SPX/NAZ are all
already in the lower mid-range.

I mentioned previously that it is common that prior to an important announcement it is common that my short-term technicals are in the mid-range, and that is based on statistical studies of my short-term technicals. Also it is subjectively understandable that prior to an important announcement that theres a bit of indecision. Per my short-term technicals, I consider the midrange as the indecision area.

So if I am correct that my short-term technicals will be in the midrange by the FOMC meeting, then the upside from here should not be great since the 3 major indicies are already in the lower midrange. Just a tad more to the upside for my short-term technicals to be smack in the middle. Say about approximately another 100 DOW points should do it.

There are still 4 more full trading days prior to the FOMC meeting, so what will happen till then? One possibility it that the market moves up a bit more so my short-term techs are smack in the middle, and then stay relatively flat till the FOMC meeting. Sure we could run up more or selloff more, but Im leaning more towards the position that whatever the market does in the next 4 days my short-term technicals should be in the mid-range by announcement time.
And we are basicly there with just a bit more upside.

seeya
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