MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 690.27

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Dec 26 4:00 PM EST

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To: Tom Pulley who wrote (83730)	4/15/2003 5:55:28 PM
From: Tom Pulley	Read Replies (2) of 99985

The market continues to look toppy to me. Although the timing model has not signaled to go to 75% short at this time, the 50% signal continues to look very solid. The graph below shows that the Nasdaq price relative to S&P 500 is clearly underperforming, Nasdaq OBV has fallen below its moving average (and this bump up is good percentage shorting opportunity), stochastics look similar, money flow is dropping,and the 200 day exponential moving average is creating good resistance above. stockcharts.com[e,a]daclyyay[pc13!c50!i!c200][vc60][iUa20,26,9!Uj[$spx]!Ub14!Ug!Uc20!Up39,13,7][J6324976,Y]&pref=G Market timing is a percentage game and there are no guarantees, but the odds are pretty good here that the market will be down over the coming weeks and there is more room to the downside than there is to the upside. Tom

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