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

To: StockOperator who wrote (16546)	6/9/1999 11:56:00 AM
From: donald sew	Respond to of 99985

StockOperator, >>>> I must admit I did not think we would run into a brick wall so quickly (yesterday's action). However, with the Fed meeting at the end of the month and the markets hanging in the balance I still believe we will continue to work our way through the remaining resistance on the charts up until that meeting. You can just tell by the sloppy daily action (gaps, low volume) that traders lack conviction. Although a possible cease-fire in Serbia may play an interesting twist. <<<< Hey, join the club. most of the brokers/J6P I talk to outside of SI, said there was no way my CLASS 1 SELL signal would work. Most of them were buying heavily on MONDAY, and when I put my order in, that broker asked me if I was sure and try to convince me otherwise. Outside of SI, I am quiet about my system, so most think Im an idiot for what they say is going against the grain. Hey, Im use to it. For every subjective viewpoint there are pros and cons. A cease fire in KOSOVO could motivate a pop in the market, but on the other hand when the KOSOVO matter first started the market did not sell off, so one could argue that it could be a non-event. Frankly, I will leave the subjective to others and stick to my boring technicals and statistices. gggggggg If you saw my 3-DAY pattern, if today is flat to slightly up, tomorrow(DAY 3) should be another down day. The statistical probability of that is around 7:10, so it is fair. Im not expecting a huge selloff either nor great upside, more like a TRIANGULAR pattern. seeya