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

To: Lee Lichterman III who wrote (17837)	6/18/1999 8:03:00 PM
From: pater tenebrarum	Respond to of 99985

Lee, thanks,i know - my hope is that his signal will not be negated, that is what i meant to say. i would welcome a pullback, it would increase the chances for a continuation of the advance imo. there is also still this nasty gap on the COMPX that awaits at least partial filling, but i can live with an unfilled gap if necessary. there is of course also a remote chance that the market decides to resume the correction - very unlikely i think, but it was equally unlikely for the correction to end so soon before the CPI came out. i'm still not happy that no high volume washout day occurred in the course of the correction and this market is by now notorious for springing surprises with unwavering regularity. it seems though that the probabilities favor the bulls for the intermediate term, so until circumstances change, i'm back to at least a mildly positive stance. expecting a blow-off is of course more than 'mildly' positive, but while i do think a blow-off is possible, i try not to get carried away by that view. better to take things day by day. regards, hb