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

To: Robert Rose who wrote (19514)	7/6/1999 8:51:00 PM
From: HairBall	Respond to of 99985

Robert Rose: I took a look at my chart tonight. I think the "gurus" we were talking about are being a little rich with their expectations. I suspect 11800 to 12000 will be strong resistance. However allow me to note, my analysis techniques do not portend magnitudes of moves, I just try to be on the right side of them. I suspect the last hour of trading of the DOT Index was just the beginning of the retrace I indicated would most likely begin today in several of the Indexes. See my BWDIK page on the MDA Web Site. I have updated my charts tonight. I extended the scale up on my INDU chart so you (all) could see resistance lines on the Dow 30. You can view my charts on the my chart page and my latest chart break down and Market comment on the BWDIK page on the MDA Web Site at: homestead.com Regards, LG

To: Robert Rose who wrote (19514)	7/6/1999 9:24:00 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

Robert Rose: A follow up to my previous response. I think it is more likely that resistance will be in the 11600-11800 range on the Dow 30. If those numbers are taken out, I will re-asses. However, this rally most likely will be a pure sentiment (momentum) driven rally. It should be important to watch major indicator stocks such as GE and MSFT for hints of a reversal. I do expect a retrace and as long as my expected support areas hold this rally is still alive. Playing the long side should be done with "stop loss points" which are converted to "trailing stop loss points". This Market should become more volatile as the top nears. Swings should become more extreme. Regards, LG