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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.93

0.0%

Nov 14 4:00 PM EST

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To: Monty Lenard who wrote (6589)	2/17/1999 11:21:00 PM
From: Magnatizer	Read Replies (1) of 99985

Monty here is the explanation of the construction of the 85 line from my prior post to Vitas SP500: Once again mixed indicators. Weekly buy still on. The "85" line has major pull. For those who missed the last few updates on this line it is a connection of the lows from 10.2.85 to 2.5.86. Its significance was defined from 86-87 as the SP500 tried valantly to hold the break out above it and could not get it done. Its final attempt to break through this trendline was in August of 87. The SP500 did not challenge this line again until July of 98 and again in December of 98 until now. It appears to be using it as support but needs to be tracked closely. A day where the SP500 high is < this lines value will give me major cause for concern. 2 days and I will exit 50% longs if the the market is kind enough to hang on. Again, there are warning shots being fired and caution is advised. Its value monday is 1238 ht david

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