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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

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Nov 17 4:00 PM EST

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To: HairBall who wrote (10855)	4/13/1999 3:56:00 PM
From: StockOperator	Read Replies (1) of 99985

LG, the fact that the RUT, TRAN, and UTIL have not moved up through critical resistance points yet, is what separates my position from yours. I have stated such and defined the areas which are available for viewing on my charts on the MDA Site. What I asked you, is what separates you from my position, shy of seeing the Market fall apart. Can you give me some concrete technical reads, to help persuade me? Larry, I thought I did that. Because I do not post my charts I have tried to be as accurate as possible when describing breakout points or congestion areas - pointing out upside or downside resistance. Terms most technicians are familiar with. I realize words don't compare to the actual picture on things. But when I put things into my words there is less of a chance that someone will misinterpret a chart simply by looking at it. I prefer to tell you exactly what I expect based on what I am seeing. This also forces me to be more accountable for my opinions. We all have access to the same information. My charts look no different than anyone else's. How we arrive at our opinions based on that information is what truly separates all of us. Remember I am not telling you that the market will rise through April then fall. In doing so I won't be disappointed when my expectations are not met - or do I want to be locked into a certain view of the market. I simply look at prices through multiple time frames to indicate whether or not prices are violating key areas. This simple approach has kept me in the game through this entire consolidating period. Especially two months ago when the DOW was at 9000 and people were calling for a BK. That was 1300 pts ago. And even though the RUT and Trannies have not participated anyone not long missed out on a substantial rise in the market. So here we are with three of the major market avgs already at new highs. With the RUT responding already and the trannies at a key congestion area. I would hope that many would understand that the immediate trend in prices (for that index) is very critical here. I hope this helped. SO

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