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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: donald sew who wrote (31602)	10/27/1999 5:55:00 PM
From: Fun-da-Mental#1	Read Replies (1) of 99985

Take a look at the 10-DMA high-low differential: decisionpoint.com Over the past few months it's been tracking the ups and downs of the market pretty closely, but now it's been ignoring the upturn over the past few days and continuing straight down. It's at -300, a level not seen since just before the big drop last year. To me this says the next downleg will be severe, especially if the Nasdaq has finally broken and made a lower high. There are some indications that this uptrend can continue, such as positive A/D and falling bond rates today, and recovery of yesterday's losses in most of the major indexes. But on the other hand the S&P and NYSE have hit their falling resistance lines, and new highs have been decreasing over the past few days, while new lows have held pretty much steady. So to me the basic technicals and internals say we're heading down strong, if not tomorrow, then soon. Fun-da-Mental

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