MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 674.96

+0.9%

4:00 PM EST

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To: James F. Hopkins who wrote (12590)	5/1/1999 12:44:00 AM
From: Vitas	Read Replies (2) of 99985

Jim, I kind of thought that until I looked at some charts this evening. A number of biggies made their highs earlier this month, and made lower highs before this downswing. MID made a new high today and then had an ugly looking reversal. We do have a shot at the seasonal month end first of month money coming in that may keep us afloat for a day or two. And maybe Goldman Sachs and friends will try to make things look good until they unload the IPO. The a-d line creeping above the down trendline from April 98 is a touchy issue, but it went below a trendline for a day or two in March, so it is still an open question. And 8-5 sto rsi, which has been calling moves well since the beginning of the year is headed down from overbought. Vitas

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