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

To: pater tenebrarum who wrote (18916)	6/30/1999 10:46:00 AM
From: bearshark	Respond to of 99985

Heinz: We fell back in the INDU triangle and are 150 points from the top. The safest way to play this may simply be to wait for a breakout from the top on high volume and then a retest of the top of the triangle or apex to make a decision. There is a lot of jockeying for position in the advancing and declining volume. It is switching form one thing to another. I will not move at all until I get the explosive volume I am looking for on the upside. If it does not come, I am back to bearish.

To: pater tenebrarum who wrote (18916)	6/30/1999 11:07:00 AM
From: Michael Watkins	Read Replies (2) \| Respond to of 99985

Chicago Purchasing Managers' Index number out - printed at 60, a big surge and the highest level since mid 97. The national PMI comes out on Thursday. If the number is similar, all thoughts will be on .50 point fed rate increase, or .75, not .25. EDIT: Someone called me with the number but trying to obtain confirmation online. Just heard CNBC discussing it and they were showing different numbers although comments were along the lines of 'traders will be concerned about the surge in prices paid'. Some words on te PMI napm.org A PMI reading above 50% indicates that the manufacturing economy is generally expanding; below 50%, that it is generally declining. A PMI over 43.5%, over a period of time, indicates that the overall economy, or Gross Domestic Product (GDP) is generally expanding, below 43.5%, that it is generally declining. The distance from 50% or 44.5% is indicative of the strength of the expansion or decline. With some of the indicators within this report, NAPM has indicated the departure point between expansion and decline of comparable government series, as determined by regression analyses.