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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 683.47+0.6%Nov 28 4:00 PM EST
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To: HairBall who wrote (14960)5/26/1999 1:13:00 AM
From: Smooth Drive  Read Replies (3) of 99985
 
Good post LG,

I'm encouraged that the Dow Jones Bond Average turned up. Its interpretation is at Message 7842134, and it now looks like this:
 
107.00                                          X   X
106.08                                          X O B O
106.06                                          X O X O
106.04                                          A O X C
106.02                                          X O   2
106.00  2                                       X     O 
105.08  X O                                     X     O    
105.06  X O                                     9     O
105.04  X O                                 X   X     O
105.02  1 O                                 1 O 7     O  
105.00  X O                                 X O X     O
104.08  C 3                                 C 4 X     O 
104.06  X O                             X   B O       O
104.04  X O                             X O A         O
104.02  B O                             X O X         O
104.00  X O                 X           X 8 X         4
103.08  A O < High Pole     X O X       X O X         5 
103.06  X O                 X O X O 2   7 9           O X
103.04  X O                 X C X O X O X             O X
103.02  X 4                 B O   1 X O X             O X
103.00  X O                 X     O   3 X             O 
102.08  9 O                 A         O X
102.06  X O X           X   X         O X < Low Pole
102.04  X O X O         X O X         O 6
102.02  X O X O         X O X         O X
102.00    O   5   DTB > 8 O X         4 X
101.08        O X   7   X O X         O 5
101.06        O X O X O X 9 X         O X
101.04        O X O X O X O           O X
101.02        O   6   O X             O
101.00                O
100.08
        9                         9         9         9
        6                         7         8         9

The fact that it turned up after this too long 20 box down column is, again, encouraging. The double bottom sell signal at 106.00 happened on February 2nd!

A Low Pole buy signal occurs when an O column moves below a previous O column by at least 3 boxes, and the next X column retraces more than 50%. In this case, the current column of X's would need to rise to 105.2 before we would get the actual buy signal. But, this reversal up right here tells me that this could be the bottom, or the beginning of a bottom for bonds.

It could well reverse back down but this reversal is a good sign.

Take care,

Eric
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