MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: Les H who wrote (2986)	12/28/1998 3:02:00 PM
From: Lee Lichterman III	Read Replies (1) of 99985

While I was hoping you were right, most of the mid-caps I watch opened at highs today and formed long bearish candles today. TICK is staying strongly negative all day also. Either the market is consolidating for the next leg up or this is the top of a reversal downward. Only time will tell and with the shortened trading week and light volume it is almost impossible to tell what the real intentions of those that move the market are. Lots of head faking going on today also. I was watching one just now that opened around 37 slid to 36 1/4 most of the day. Just moved up to 36 1/2 for 4 trades then tanked to 36. I was about to pull the trigger for a scalp thinking a run was coming. Good thing I have slow reflexes. <g> Good Luck Lee

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