MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: HairBall who wrote (11664)	4/21/1999 9:18:00 AM
From: Terry Whitman	Read Replies (1) of 99985

Just had a look at Gersh's SP500 chart, and wanted to point out an observation. homestead.com The 16 day ma has crossed below the 36 day ma. There is a gap between them at the moment that has only been seen twice in recent history. The first occurrence was 11/97. In that instance, the index quickly moved right back up to the 36 day ma, based for a few weeks, then continued upward. The second occurrence was in 8/98, and we know what happened then. This suggests that we should have our answer soon. Either way, the prudent position here would be cash, until the direction is confirmed. TW

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