MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.27

-0.5%

Dec 1 4:00 PM EST

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To: Les H who wrote (34852)	12/7/1999 12:33:00 PM
From: Les H	Read Replies (1) of 99985

A Look at Each of the Dow 30 raymondjames.com ALD ? 60-5/8 - an attempted upside breakout failed intraday. Another successful attempt is possible. Nearby support at 55. AA - 66-13/16 - broke out above resistance at 66. We would be buyers here. T - 54-13/16 - triple top breakout at 49 resulted in an explosive move to 61. Stock should hold above the upside gap at 54. AXP - 152-3/4 - double top at 160. Stock violated 150 support level but then reversed. May have another run to the 160 area. BA - 41-1/2 - in a downtrend since July ending with a head and shoulders pattern. Critical support at 40. CAT - 46-15/16 - significant technical damage leaves this stock vulnerable to more downside or, at best, a basing period. GM - 72-7/16 - a steady uptrend since October. Next resistance level is at 78. C - 54-7/16 - Another rally toward the old high is likely. Tight support at 50. KO - 68-3/8 - a remarkable recovery after the technical breakdown in September. Resistance at 70. DIS - 28 - multiple resistance in the 28-30 range has held DIS back. We would be buyers through this level. DD - 60 - broke a five-month downtrend line. Stock looks ready to move higher. Resistance at 65. EK - 62-1/2 - in a downtrend with no sign of a bottom in sight. XOM - 82-3/8 - the new Exxon-Mobil Corp. After breaking support at 75, the stock is coming back strong. Overhead resistance at 83 . GE - 134-9/16 - correcting after a long run. Minor support in the 130 area. We would expect a rally back to the old high. HWP - 96-1/2 - consolidating after an extended run. Nearby resistance is at 100. Buy on a breakout through this level. HD - 81-1/4 - steady uptrend. No signs of a top yet. IBM - 103-3/4 - consolidating recent gains while filling October's downside gap. Stock appears poised to move higher. INTC - 76-5/16 - lower rally highs look suspect. Needs to clear resistance at 83 before it's a buy. IP - 51-1/16 - stock is in a trading range and needs to clear 56 for a breakout. JNJ - 102-1/2 - narrow trading range with resistance at 107 and support at 102. Looks weak. MCD - 46-5/8 - A rally off support at 45 should take the stock back to 49. MRK - 76-1/4 - double top at 80 with support at 75. Buy on a breakout above 80. MSFT - 93-3/16 - stuck in a three-month trading range between 85 and 95. More attractive buys elsewhere. MMM ? 94-7/16 - completely retraced its rally from 95 to 103. Should attempt a rally toward the old high. Support at 94. JPM - 131-1/8 - triple top at 148. Rising interest rates increase the vulnerability of financial issues. MO - 26-15/16 - stock is trying to put in a bottom, but still too early to buy. Needs to clear resistance at 28. PG - 112-1/4 - Uptrend remains intact. Currently in a consolidation phase with support at 110. SBC - 52-3/8 - Multiple resistance at 54 limits this stock's upside potential. Support at 50. UTX - 58-1/16 - Stock is going through a basing period after an extended decline. We would buy the stock, if it breaks above 60 on good volume. WMT - 58-15/16 - a lower rally high after a pullback suggests waning momentum. Lots of support at 55.

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