MDA - Market Direction Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis

SPY 676.47

+0.8%

Dec 18 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Robert Rose who wrote (33146)	11/11/1999 9:27:00 AM
From: j.o.	Read Replies (1) of 99985

Here's the call from the IndexTrade.com Market Doctor... Markets @ a Glance November 11, 1999 PPI came and went yesterday and even though there was a lot of hype about the "'core" index coming in higher than expectations, market reaction was not very extreme. Bonds sold off a bit only to close a couple of basis points higher and Equities in general were positive on the day. PPI was a bit of a wash as the overall index came in tame and the over-analyzed "core rate" was a tad higher than expectations. The bottom line...even though the index didn't show major signs of concern from yesterday's reading, it is significantly higher than that of 1998 and the Fed will look at this. However my focus is still with the CPI because if productivity is as good as some claim, than higher PPI may never show up in CPI...but don't count on it. Stocks The Dowzer posted a wet and soggy day once again as activity was not focused on Microsoft as weakness was broad based... but by the close things were nearly unchanged. The S&P caught a bid from a wonderful reception of UPS to the public market and the NASDAQ, although the leader once again, showed some signs of reality. This Techy index settle way off it's highs which may imply that there is a top to this market. Technical levels for the Dow include 10,560 support and 10,660 resistance. Medium term market direction can be set if prices can breach either of these on a close. 3,100 is the magical technical for the NASDAQ. This may provide some support on the near term but if market forces break through, downside momentum could continue. Bonds The 30 year gave back just over a half a point in prices at the lows yesterday but PPI did not provide a strong enough shock to set direction. Technicals are once again 6.0% yield support and 6.12% resistance. Look ahead for Retail Sales to potentially provide some fundamental drivers.. Gold Well the Doc kind of thought things were beginning to brew again in this market but things happened a bit quickly as upside objectives at about 300 have already been met. Near term resistance is 304 on Feb. If we can close above this, things may get interesting again. Crude No technicals to mention but be careful of the long term ramifications of this market. Prices are high and have been that way for a while. This will cause some problems in the future. Always remember...THE MARKETS RULE !!!!! Stephan Kudyba (MBA/PhD) THE MARKET DOCTOR indextrade.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next