MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

4:00 PM EST

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To: bobby beara who wrote (777)	12/7/1998 3:12:00 PM
From: HairBall	Read Replies (2) of 99985

bobby: Well, those breaks were to be expected. I don't think this is the beginning of a new blast off...time will tell. The NAZ and RUT's 60-Minute formations portended a break to the upside as uptrend based symetrical triangles most often do. DJI, NYA and SPX broke above their respective upper descending resistance trend lines Friday. I expect a consolidating rise of the DJI, NYA and SPX into the middle of this week, before trending back down, if the 1190/1200 area holds on the SPX. Of course, the Market is sending a mixed signal as usual, as of late. One must stay on ones toes...and I have no dogmatic positions in today's Market! Regards, LG

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