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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: bearshark who wrote (35875)	12/23/1999 1:16:00 PM
From: Lee Lichterman III	Read Replies (1) of 99985

The NYSE is one chart that kept me from buying puts hand over fist. I am in disagreement with another trader on this chart. I think it could be forming a bullish flag although I see the other possibility of a descending triangle also. We have been wating for the break one way or the other to tell us what to do. Still I have sell signals on teh other Major inndexes so I am being extremely cautious in what I buy and quick on the trigger to sell at the first hints of slowing gains. I have to go back to work next week so I may go flat again today. I am seeing bearish signs all over the place despite the indexes making new highs. High flyers like CTXS are rallying on decreasing volume as each day passes. Other stocks that are rallying are forming bear wedges. Still I agree with Bobby that there are also many companies that are showing bullish potential charts despite not breaking out yet. If these move up, then the ally could broaden but the techs will have to sector rotate to allow the cash needed to do so. Anyone notice the bond at a new low with rates at 6.467 ???? EDIT - Now 6.48% !!!!!!!! Good Luck, Lee

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