MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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To: donald sew who wrote (6749)	2/20/1999 1:36:00 PM
From: Lee Lichterman III	Read Replies (2) of 99985

My daily charts confirm what you state but in my dazed and confused mind set, I just updated the weekly index charts on my site and they are looking more bearish than the daily charts are. The DOW has no room for a rally while the NASDAQ could although the last one over shot the long term fork. The SPX and OEX do give a slight upward area for a mini rally but it is limited to around 1270 SPX and 630 OEX. I wasn't sure how much of a view to put there and since I notice you all tend to look more long term than my close up views I put on Monty's site, so I panned back a liitle. The weekly bearish tweezer top I typed in with question marks was confirmed and we now have one on the monthly chart also for the NASDAQ. I am going to make up some monthly charts for the DOW and SPX and post them there also if I get time since I have the NASDAQ monthly by itself and am going to try and slip in a few more sector indexes but I am running out of server space so I will have to see how much I can fit in and stay under my limit. I still need to run a few more things so will post more later. Just thought I might remind everyone to look at the weekly charts as they seem to be pointing more clearly to a future direction than the whip saw action on the daily ones. Good Luck Lee

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