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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 672.04

-1.7%

Nov 13 4:00 PM EST

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To: donald sew who wrote (10681)	4/12/1999 2:54:00 PM
From: John Pitera	Read Replies (1) of 99985

We have had important turns on the 8th day of each quarter... looking back at January 8, the beginning of the last quarter, there was a market top which has held to this day on the unweighted market indices, such as the Value Line Cash, which falls on January 8 and is still down almost 6% from that high. Go back another quarter from there and you reach October 8 of 1998, an important turn up in price for virtually all indices. Going back another quarter takes you to July 8, the advance-decline line saw a secondary rally top out on July 8 of last year and the advance-decline line then sell almost without stopping into the October 8 low. Another quarter back takes you to the top of the advance-decline line on April 3, that was a multi-decade top that we saw on April 3 of last year. The market started to broaden out on the latest cyclical turning point and if it is not to be a high on the 8th of April, it may turn out to be an ending of cyclic pressure to the downside and the markets will rally for several weeks. If we are still strong on wed. then THis market may go alot higher than many think John

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