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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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To: Haim R. Branisteanu who wrote (38967)	2/3/2000 7:14:00 PM
From: bearshark	Read Replies (4) of 99985

Haim: I would not sell technical analysis short just yet. The INDU and OEX are working on a retrace of their broadening top patterns. www3.techstocks.com By eyeballing the INDU, about 11400 should be the maximum of any retrace and it can fall at any moment. www3.techstocks.com By eyeballing the OEX, about 785 should be the maximum of any retrace and it can fall at any moment. My own work with volume and issues is about 3 positive or up days from turning bullish--or about the same time the two charts above would be negated. So I feel the bearish case still has about three days left to it. If the above markets decline, it has more time. Add some fundamentals such as the greensnail method of dealing with a strong economy. He has the potential of duplicating Volcker's move in 1980. The FOMC knows it will want to lower rates by July. After all didn't someone just get re-nominated? My read of DCspeak leads me to believe that Washington will accept oil in a range of $25 to $30 for now. It is approaching $29. Maybe they can call on some friends to increase production a bit. Maybe not. Federal debt rates are out of kilter. That is not normal trading. Money's darling, Baby Bucks, now is trailing McCain in South Carolina. That is not good for big money. Things go wrong in a bear market. The charts are saying things are wrong. Give the bearish case three more days of an up market. If the bull wants more. . . . Well, just run like hell.

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