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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: StockOperator who wrote (16293)	6/7/1999 12:11:00 PM
From: Compadre	Respond to of 99985

Thanks SO. Regards, Jaime

To: StockOperator who wrote (16293)	6/8/1999 7:26:00 AM
From: StockOperator	Read Replies (1) \| Respond to of 99985

So far my call of the market's rising off these longer term trendlines appears to be right on track. The DOW of course is ahead of the game, while the NAZ started to make its move yesterday. The transports are also poised to break and I believe will do so this week. This index and many of the airline stocks had very strong finishes yesterday. The RUT is indeed attacking this rising wedge and I believe if this pattern is to be broken, should make a sizeable move this month. I was looking for IBM to break the pattern that has developed, and it did, however, there is an unfilled gap on the chart. The same thing applies to the NAZ. Looking across the tech spectrum I am seeing stocks that appear ready to rally. Many of the generals and nutz appear ready for a move higher. So how this rally plays out will be interesting to see. As I said earlier there is still plenty of resistance along the way for stocks and indexes. With the Fed's decision still looming on the horizon and the gaps on the charts, tells me that any rally should be reassessed on a daily basis. At least until the patterns become more apparent. Regards SO