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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

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Nov 19 4:00 PM EST

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To: TheHahnz who wrote (8748)	3/23/1999 7:49:00 AM
From: donald sew	Read Replies (1) of 99985

INDEX UPDATE ===================================== As a bellweather for the HiTECHs, MSFT is hinting the possibility of forming a DOUBLE TOP. My short-term technicals are severely overbought right now, which implies that it should not exceed the previous peak at 175 range which would lead to a DOUBLE TOP. Just a candlestick tidbit - the NAZ had a BLACK MARUBOZU, which implies continuation to the downside. A MARUBOZU is a long day which has no shadows. Its not a perfect MARUBOZU since it is not really that long and there is a very tiny shadow, which I am discounting. From my calculations, if the DOW does continue to sell off the maximum downside for this specific short-term downswing would be in the 9500-9700 range. A break of 9850 to the downside would imply further downside and confirm the TECHNICAL DELAYED RISE. Seeya seeya

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