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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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To: Casaubon who wrote (8590)	3/21/1999 11:55:00 AM
From: Lee Lichterman III	Read Replies (1) of 99985

You are probably correct in all your points but my charts have an automated screen customized for each one and that one I built for BTK is pretty accurate. I only need a small pullback since I trade options and it doesn't say how much just when. It gave a sell signal Thursady and has already dropped 3.9 so it could only be a minor pullback. Still the stochastic reading is still at 93 and my CMO reading is still 42 which means Friday's drop did take it out of extreme overbought and my sell signal will turn off Monday but the candlestick formation is a "tweezer top" which usually implies more downside and an at least short term top. MACD appears to be curling over and already reached a top lower than the top in January and February. As I said, your FA reasons are probably sound bt my TA says this sector has had it's run and should drop. If 196 fails to hold then I expect 185 to be the next very weak support then finally 176 as the bounce point. BWTHDIK, Lee

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