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Strategies & Market Trends : MDA - Market Direction Analysis

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To: HairBall who wrote (5002)	1/30/1999 2:01:00 PM
From: Lee Lichterman III	Read Replies (1) of 99985

How are you sending the charts to Monty? If the thread wants, maybe I can send him mine (on a white background <g>) so that some of mine can be posted publically. Also in my post last night about the weekly versus the daily charts, I was speaking of individual stocks not the indexes. The index charts did not change much by going to weekly but the stock ones did. The weekly individual stocks showed more upwards moves possible as compared to the daily forks and trend lines. I still have not been able to resolve this conflict yet. As for the discussion on the oils. There was what appears to be a hammer bottom going to a horizontal support line. However, I have found that channel supports (diagonal) are usually more reliable than horizontal ones and after searching diligently, there is one more lower support line that the oils could drop to that is much lower. So basically the XOI MAY have found bottom but it is still not guaranteed in my opinion. It is funny though that the news has been talking about the effects of the oil glut and price drops, then a few days later, the state department is accusing Iraq of hiding a wanted terrorist. Couple this with the impeachment commitee calling witnesses next week and gee I wonder if Clinton is getting ready to wag the dog again? Nahhhh he wouldn't do that, that would be like him telling a lie while looking into a TV camera or while sworn in during testimony. <ng> An excuse for a pop back up in oil mid term? Lee

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