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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 684.45

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To: donald sew who wrote (5553)	2/5/1999 9:48:00 PM
From: bobby beara	Read Replies (2) of 99985

Donald, you can use 14 or 9 days RSI, doesn't matter, but there are some powerful divergence in breadth and RSI. I also posted about ten days ago a weekly spx chart with a stoch sell. The SPX has not really corrected yet, given a large RSI divergence and the 2nd time in a row for the SPX to make a new high with the McCllelan Oscillator in negative territory is very bearish. The advance is on a much narrower set of issues than the April/July top. (and most of them are in the red -gggggggggg) The charts of the NYA and the DJA have indecision patterns at the base of very negative breadth sell-off on 13th. These are continuation patterns. Add in that we have another Dow Theory Sell - this time with DJU taking out 200 dma on a waterfall decline. bb

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