MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.31

0.0%

Nov 12 4:00 PM EST

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To: StockOperator who wrote (15935)	6/4/1999 11:27:00 AM
From: Compadre	Read Replies (1) of 99985

Good morning SO. Nice to see you back. I hope you had a good time off from the markets. Todays market action look pretty healthy. The DOW, SPX, OEX, SOX, NDX, RUT and UTIL broke through their respective 10 day EMA. If this were to hold today, we may see some more upside. On the other hand, the down side is that the OEX and SPX are in extreme overbought now. And I have sell signals on them. The NAZ is not following suit yet but is just a couple of points away in doing so. In any case, I still don't think that we are out of the water yet. I still do not see convincing volume to confirm this bottom. So cautiousness is advised. The picture did improve at this point. Let us wait and see if the market gives us a confirmation. Regards, Jaime

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