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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: fedhead who wrote (28635)	10/7/1999 9:29:00 AM
From: Les H	Read Replies (2) of 99985

As Linda Richman would say, the tightening bias was neither a tighening nor a bias. They inserted a statement in the press release saying they weren't committed to any near-term action on rates. That negated the whole bias. As for oil, they also got hit by the increase in inventories. The market may pull back on a very short-term basis but I still have a lot of new trend reversal buy signals on individual stocks by about 49% to 51% ratio over sells. I usually get an intermediate-term market reversal when the ratio gets over 80% on one or the other type of signal.

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