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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

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Nov 7 4:00 PM EST

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To: dennis michael patterson who wrote (38381)	1/28/2000 6:06:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

Dennis, note that a big one-day TRIN (>1,50) serves as confirmation of the loopometry sell signal. this is the 9th loopometry sell signal since 1972. of the previous 8, only one (1988) has not worked and it was the only one not confirmed by a one-day TRIN > 1,50 within three weeks of the signal. this means if you believe in the signals validity, that every bounce should be sold from now on. note also that the 34-day TRIN recently hit the lowest level since August 1987. add to that that the bullish consensus has recently reached what can only be termed ABSURD levels, the wild speculation that has broken out in the BB sector, and you have to conclude that a BIG RED FLAG is being waved right in front of us. as of yet, there seems to be absolutely no concern in the marketplace. the bull market has acquired an aura of invincibility...thus i do think there will be lots of tradable bounces, as the ingrained BTD habit will continue to be on display. very good for traders, but a horror-show for long term investors.

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