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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.08

-0.8%

Nov 18 4:00 PM EST

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To: yard_man who wrote (5609)	2/7/1999 9:24:00 AM
From: donald sew	Read Replies (1) of 99985

Tippet, >>>>> This is exactly the reason I have purchased oil service stocks and will add more on a market melt. The OSX could drop another 10 - 20% in a market melt, but I seriously doubt there is much more downside than that; over 1 1/2 - 2 1/2 year time frame the potential is very good. <<<<<<< On many of the technical indicators on the OSX, divergences are appearing implying a bottom. The easiest one to see is in the MACD where the peaks in the histogram are declining but the index is flat. Of course there could be more downside but it appears that the downside is limited as you mentioned. seeya

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