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Strategies & Market Trends : MDA - Market Direction Analysis

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To: Moominoid who wrote (2043)	12/16/1998 10:31:00 AM
From: John Pitera	Read Replies (1) of 99985

David, your reading of the Summation index is spot on IMO. When making lower tops such as in this chart decisionpoint.com the market is is almost always entering a bear phase. Their are historical charts at decisionpoint.com on this and it is worth reviewing the action of the Sum. index and the a/d line Here is a post from last night Message 6852103 where it is pointed out that the breath and large number of new lows meant that the tape is ugly and that if we do not have another huge upday today, we may be back to the market pattern of July and Aug, which means lower prices. Cramer had a column yesterday saying Double top INDEED! his take was that yesterday's powerful upday meant that we had seen a low of the OCT 8th magnitude, their were other posts on SI to that effect as well. I wonder how many posts we can find from oct 8th oct 10th which said climb aboard or you shall miss all the rocket ride. Anyway David, good observation on the SUM Index. Passing Observations, John

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