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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 671.910.0%Nov 14 4:00 PM EST
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To: Lee Lichterman III who wrote (6047)2/11/1999 9:06:00 AM
From: HairBall  Read Replies (1) of 99985
 
L3: your DOW chart seems to be implying a short term bounce but then the long term looks like we haven't even started falling yet and after the bounce we should go down harder. Am I reading your indicators correctly???

Note my Oscillators are trend following, but very close. And on occasion they foretell. The sht/med osc is still in a short-term and medium-term sell as of Wednesday, but the fast sto is just above the oversold line and indicates a possible bounce today, but I do not expect much.

The med/lng term osc has given a med/lng term sell as of Tuesday as well. That med/lng term signal needs a few more days of negative reads to confirm. If it does confirm it means at the very least sideways action in the Market intermediate term and most likely a pullback/correction. I suspect more than your normal pullback…at least in the high flyers, “internuts”, “technuts” etc. <g>

My stuff does not portend magnitude, just direction. I derive magnitude “expectations” based on chart patterns, price action, trend lines, etc.

Note: I can't remember “ever” getting three sell signals on the same day before...<g>

cp-tel.net
(LG's Dow Industrials Actual Daily Semi-Log Chart)

BWDIK
Regards,
LG
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