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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.83

+0.3%

4:00 PM EST

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To: HairBall who wrote (13110)	5/7/1999 2:54:00 AM
From: Lee Lichterman III	Read Replies (1) of 99985

LOL Maybe, but he has been bullish as of late. Charts updated at the MDA site and other site as of now. I added a daily TYX Chart after the OEX chart in the index. I will add the weekly chart this weekend. I was running very late tonight. Too many projects too little time. Updated the candle page but there really wasn't anything note worthy there. Observations after running through everything. I had a bad buy signal that was violated (only a class 3) onthe XBD broker index which also fell through a support line today. The DRG and HCX formed either hammer bottoms or hanging man formations, inclined to believe hammers do to position on fork, curl of MACD and stochastic wave form but .... I have a buy on the US dollar, probably a over sold only indicator for a quick bounce then another drop. Added a weak support line that I thought may try to hold it temporarily. Also anyone at my other site, I just noticed I had the wrong date posted yesterday so it appeared that the charts were updated for today when infact they weren't until just now. If youlooked earlier, better check them again!!! AOL is in a do or die situation. Sitting on the last support line before a major drop could occur. Index bottom medium term fork tines have been tested twice now, they maynot hold up another assault. Be care on the SPX, OEX, DOW. The NASDAQ could also fall to the bottom red tine if the support in the 2127 area is violated. Indicators are mixed as to intent of the market. If we bounce tomorrow on vague empoyment numbers, beware the J6P head fake up to make things pretty for the weekend. Just because we go up tomoorow does not mean everything will be coming up roses Monday on the open. The TYX chart shows that the rates will continue to rise IMO. Good Luck, Lee

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