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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 670.21-1.1%Nov 6 4:00 PM EST
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To: HairBall who wrote ()2/16/2000 1:41:00 AM
From: IndexTrader  Read Replies (2) of 99985
 
I would like to thank everyone for their insightful posts over the weekend. I have been reading this thread for some time and it is always beneficial. For some reason, perhaps because of the make or break state of the market, each and every post was even more thought provoking than usual.

Speaking of the make or break market -- I think it once again moved to the edge of the abyss and survived. I was watching 1378 SPX cash and really felt that a close below that would signal a significant decline. When that held and the Naz bottomed, I went long EMC, CSCO, and VTSS and will likely add more tomorrow if things continue to hold up.

Here are the positives I see for the market going forward.

The McClellen Oscillator turned up yesterday and moved up today. Tomorrow it moves to the zero line with +601 advancers and will continue up with a negative breadth of
-300. I find that this indicator (and the ITBM) give good buy signals. Also, three of the "cycle guys" that I follow had a cycle low on 2/14-2/15. When all my "cycle guys" agree, the market usually cooperates. When they do not, the market is choppy.

I will try to post my thoughts and add to this wonderful thread.

Thanks
Susan
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