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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 670.92+0.1%Nov 7 4:00 PM EST
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To: HairBall who wrote (39784)2/11/2000 2:11:00 PM
From: bobby beara  Read Replies (1) of 99985
 
LG, not only are the transports sitting on trend from 82, but so is the nyse a/d line.

Another thing i've been keeping an eyeball on is the McCllellan Oscillator which has been making a parallel channel from the 8/11 low.

we are near the bottom of the trendline now, a big break below that trendline on volume and big spread on all indexes would indicate one of them hoopy loopy sells to me, would also make that inverted H&S pattern on the summation fail.

So we are clearly at an important juncture here, either putting in a bottom on the listed stocks or crossing into bear market territory and ending the bull run from 1982.

Also to note, all top ten timers of timers digest were bullish this week, a rare occurance, the last time i remember this was in the first week of jan 99, which topped out the run from october and sent the indexes in a trading range ( i guess there all playing nasdaq stocks too -ggg-)

b
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