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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.89

+0.3%

Dec 3 4:00 PM EST

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To: doniam who wrote (83625)	1/14/2003 10:55:34 PM
From: Tom Pulley	Read Replies (3) of 99985

My timing model gave the signal tonight to go from 50% long to 25% short. I'll be selling in the morning. We are in the neighborhood of a lot of resistance right now and the technical backdrop has deteriorated in the last few weeks. stockcharts.com[e,a]daclyyay[d20000114,20030114][pb50!b250!d20,2][vc60][iUb33!Lo33]&pref=G Long term stochastics on the advance/decline has gone into the overbought range. This is not part of my model but it is a decent indicator to look at for long term overbought and oversold conditions: stockcharts.com[e,a]daulyyay[d19900409,20031231][pb7!b3][vc60][iul14!up14,5!ub7!uo44!ua12,26,9!ua9,20,7!lo132][J6496941,Y]&pref=G Quite a few short term indicators are also indicating that this market needs to pull back. Hopefully that is all that will happen and not another big decline like we've seen each year for the last few years. Tom

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