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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (3746)2/25/1999 11:20:00 AM
From: James Strauss  Read Replies (1) of 13094
 
The Seesaw Market...
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Just when I was getting excited about the long side of the market it decided to go back to its old bad breadth ways:
quote.yahoo.com

Perhaps Mr. Greenspan has spiked the market's bottle of Listerine..: >

In the blink of an eye New Lows are soaring above 40 again...
decisionpoint.com

The McClellan Oscillator failed its test at the 0 line:
decisionpoint.com

We continue to be locked in a Dow trading range between 9600 and 9100... If this decline today holds, the Dow will drop below its 10 day MA... There is support on the 50 day MA at 9250...

The chart of the Dow and S&P looks similar to the way it did last spring before the market broke its supports...
quote.yahoo.com^DJI&d=1ys

Note a slightly lower high than the previous high... While I'm rooting for the long side, it looks like the short side is grinding away at the market internals... Add to this the background of yesterday's Greenspeak, and you have a market with a flat to downside bias in the short term...

Jim

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