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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.53

-1.5%

Nov 20 4:00 PM EST

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To: Lee Lichterman III who wrote (7444)	3/3/1999 8:17:00 PM
From: stockycd	Read Replies (2) of 99985

All, Just looking over my charts and making some notes. 1. DOW-Lower. A retest of 9102 is still very possible. No sign today of a bottom or turnaround. 2. BKX-Deterioration. Think this will help weaken the overall market. 3. Transports-Rally short lived, almost negated today. It's still slightly overbought. 4. SOX-Narrow strength today. 60 min charts are suggesting selling any rally. 15 min charts suggesting tomorrows high could be short term top and could be a repeat of Tuesday (3/2/99). 5. SPX- Got dangerously close to support (intraday). A possible cautious bottoming candle today. Any break below 1212 tomorrow will be deadly! Neutral on SPX. 6. TYX continues higher. Chris

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