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

To: Amelia Carhartt who wrote (17728)	6/17/1999 8:05:00 PM
From: BGR	Read Replies (1) \| Respond to of 99985

Lately, I have not seen Luc make too many crash calls. He seems to be going bullish (as I said earlier, I think that it is a head fake) and his prediction success rates have skyrocketed!

To: Amelia Carhartt who wrote (17728)	6/17/1999 8:16:00 PM
From: Les H	Read Replies (2) \| Respond to of 99985

FORTUCAST FINANCIAL TIMER PRECISE TIMING AND MOVEMENT ANALYSIS BY BARRY ROSEN "Serving Futures Traders Since 1987" UPDATED JUNE 16 FOR MARKETS OF JUNE 17, 1999 STOCKS and SEPT. S & P e-minis WEEKLY CHART TREND: Topping at DOW 12642 into late July or August. DAILY CHART TREND: Higher into late July. TODAY'S EXPECTED DIRECTION: Lower and then higher. NEXT HOURLY CHART NEXT DAILY CHART NEXT WEEKLY CHART TURN: 6/17 L; 6/21 H TURN: 7/99 H TURN: 7/99 H SWING TRADER'S STRATEGY: Buy 1338.75 AND 1335.75 with a 1328.50 stop. (06/17) DAY TRADER'S SUMMARY: The gap above 1330 now projects a move to 1370, with a minimum upside target of 1357. That will probably take until Monday. Resistance at 1350 is very strong and we are expecting an 11.50-point pullback or a max. of 15.00 points from either the 1350 or the 1347 region. First place to start buying is the 1338.75 region and then the 1335.50 region--and unless we take out the 1330 region, I suspect that we will remain healthy with this market. Aggressive traders may have a light countertrend sale in the 1350 region, looking to exit at 1338.75--but we will focus on buying the pullback. (06/17) We got rid of all our doubts about buying pullbacks on this market now. Look for support on Thursday at DOW 10700 and 10725 and resistance at 10850. Upside pattern could even take us toward the 11072 region by Monday. At the moment, if we get a pattern completion on the first leg up into June 21, we could see a second wave correction into the FOMC meeting into around June 28-29 and then continued higher action. With daily stochastics solidly higher and cycles pointing higher into at least late July, I suspect the bulls will go for new highs on the DOW and the summer stampede. OEX NOTES: (06/17) Stand aside. Next entry for August call options will probably be the June 28-29 time window or a minor pullback toward the 674 region on Thursday, June 16, looking to take quick profits on Monday, June 21. OPTIONS TRADERS: We recommend that you switch to trading mini contracts on the S & P since options are so unforgiving. If you choose options, make sure you evaluate delta decay of options, manage your money and buy options that have enough time in them and do not trade against the major weekly chart trend. SEPT. T-BONDS WEEKLY CHART TREND: Bottoming. DAILY CHART TREND: Bottoming and higher. TODAY'S EXPECTED DIRECTION: Bottoming and higher. NEXT HOURLY CHART NEXT DAILY CHART NEXT WEEKLY CHART TURN: 6/21 H TURN: 6/21 TURN: 8/99 H SWING TRADING STRATEGY: Buy 114.13 mit with a 113.23 stop. Hold current longs. (06/17) If you did not exit longs on our day-trade, we would continue to hold into late Friday or possibly Monday. The late sell-off was disappointing but bonds continue to show signs of bottoming on the weekly chart. We still could be sideways to lower early on Thursday but do expect to continue higher. Prices should stay above the 113.12 region. OVERALL: (6/13) We completed new research and the latest cycle low for bonds is the week of June 14, with a swing high into June 21 and a retest low into June 28. After that, we should be higher into at least July 19 and possibly August. We expect an 8-point rally, which at this point may only get us up toward the 121-121.16 region. After that, we are bearish. We are entering a multi-year inflation cycle. First target for bonds as early as November is probably the 99.10 region. marketweb.com