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: StockOperator who wrote (12392)	4/29/1999 12:20:00 PM
From: Compadre	Read Replies (1) of 99985

SO: I have been looking at the NAZ closely, specifically the W%R and MACD indicators. W%R (34 days) gave a intermediate term sell signal yesterday. An MACD crossing sell signal happened about an hour ago. With Stochastics in the middle, it is set up for a big fall. Today is the third day of the fall, and I expect to see some rebound either tomorrow or Monday. But this rebound may be for only one day. The other index that is doing badly is the SOX. That also has an intermediate term Sell (W%R), and it looks far worse that the NAZ. As it was unable to break through to get a new high. Now it looks as the inverted head and shoulder pattern is breaking down to the down side. I am afraid that we have seen the top for the NAZ 3 days ago. At least for a while. My trading system is still in a sell mode, but the OEX and SPX are getting close to being buys. Regards, Jaime

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