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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 5 4:00 PM EST

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To: HairBall who wrote (8538)	3/20/1999 7:36:00 PM
From: James Strauss	Read Replies (1) of 99985

The Market... **************** LG: The Dow is forming a mini Head & Shoulders pattern with the right shoulder in the 9750 area... That's where I think we'll see the Dow test the waters before re-testing the 10,000 area... decisionpoint.com If the 9750 area fails, the next test will be 9600... The McClellan Oscillator is heading south... decisionpoint.com If this continues, it will reverse the current uptrend in the McClellan Summation Index... decisionpoint.com If that slower index turns down, so will the overall market... New Lows are expanding... decisionpoint.com The longer New Lows continue above the 40 level, the greater the chance for a market breakdown... ******************************************************************** So bottom line, The Dow will test 9750... If that fails, it will test 9600... A successful test of these areas will bring in another market up leg to the 10,500 to 11,000 area... A failure would take the Dow down to 9250... Jim

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