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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: Monty Lenard who wrote (8881)3/24/1999 2:33:00 AM
From: Lee Lichterman III  Read Replies (2) of 99985
 
I was looking at your 10, 20, 200 DMA charts and was wondering what happens if we bounce off your support lines? Are these leading indicators and if so, how much lead time has it been before the market followed. Seems that it took a while before the market fell despite deteriorating internals. Would this just be a signal that this is another buy the dip and nothing to get upset about or what?

I am curious in how many of our short term indicators, CMOs, stochastics etc are showing a small bounce likely soon, the J6P indicator should kick in before Friday's close etc yet at least my mid-term indicators say this isn't over yet. If it appears a bounce is going to happen, is it going to be a bounce that can be played on options, too dangerous for that so play the stocks, will it be a short term trade to close before Friday or will Friday be a day to re-establish shorts for a Monday drop? I figure by tomorrows close, most of the stuff I am paying close attention to will either be on supports or will have violated or bounced. Hopefully we will know tomorrow. Futures holding so far despite Asia falling 3% or so.

You know, at least the J6Ps aren't up after midnight figuring this stuff out. They just know the market only goes up. <g>

Good Luck,

Lee
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