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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.03

+1.0%

Nov 21 4:00 PM EST

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To: Compadre who wrote (2308)	12/19/1998 10:47:00 AM
From: Les H	Read Replies (2) of 99985

Favors was on CNBC Friday afternoon and looks for a short-term top on the 22nd plus or minus whatever. And a decline or consolidation into January 4th give or take some number of days. He looks for a top on April 9th approximately. (my comment: That's about 6 months after the bottom in the 9 month cycle) Then he went to say the Christmas period is up 77% of the time according to Stock Traders' Almanac. Of the expert signals in AIQ, 79% of those are buy signals and 86% of the signals confirmed by the price-phase indicator (10-day EMA to 49-day EMA variance) are buys. Normally, one would expect a broad rally in the market (not necessarily the indexes). Sounds like Democrats don't want Livingston to resign. Some are asking him to reconsider. From Barron's today "Wag the Bear by Clinton" Here's a provocative screenplay: An embattled President manipulates the stock market and blames his critics for the subsequent plunge. He tries to rouse a complacent citizenry to his cause. The public is indifferent to events in Washington because the economy is good and their stock portfolios are appreciating nicely. We'll call this extravaganza Wag the Bear.

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