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

To: donald sew who wrote (20107)	7/14/1999 11:53:00 AM
From: Lucretius	Read Replies (4) \| Respond to of 99985

where is max pain for the SPX?

To: donald sew who wrote (20107)	7/14/1999 12:37:00 PM
From: Les H	Respond to of 99985

US TSY MKT BRIEFLY BID AFTER DATA BUT GAINS SOLD 09:48 EDT 07/14 NEW YORK (MktNews) - U.S. Treasuries briefly upticked Wednesday morning following release of mostly favorable June producer price index, but pressure in core and intermediate prices sparked later selling. The core PPI fell 0.2% in June, below expectations of a 0.1% increase, while the overall rate fell 0.1% vs. expectations of a 0.1% increase. Analysts said the dip in PPI was due to the declines in energy, down 0.3%, and cars, down 1.3%. But a second month of price hikes in raw materials and intermediates took the shine off the report, dealers said. Both core crude materials and core intermediate materials rose 0.5%. U.S. retail sales rose a less-than-expected 0.1% in June vs. expectations of a 0.3% rise, while the non-auto component rose an as-expected 0.4%. However, there were upward revisions to ex-auto sales for April-May, which is negative for bonds. The ex-auto average for the quarter posted a gain of nearly 2% over the first-quarter, showing strong consumer demand. Although many analysts considered the data friendly, some dealers said the market reaction was poor and players seem tired. Sources said there was more interest in selling and many view the market as overbought. Ian Sheperdson, chief U.S. economist at High Frequency Economics, noted the June PPI and retail sales data will be superseded by July data. Therefore, the June data may not be as instrumental for the Fed to consider. In debt futures, one New York dealer sold up to a total of 10,000 Sep T-bond contracts, which has kept the market under pressure, according to sources. GovPX posted volume of $17.3 billion at 9:32 a.m. EDT. The yield on the 30-year bond was 5.922% at 9:32 a.m. EDT compared with 5.920% at 8:12 a.m. EDT. -- Jill Bebar; New York newsroom; 212-509-9297, jill@marketnews.com.

To: donald sew who wrote (20107)	7/14/1999 12:49:00 PM
From: Stoctrash	Read Replies (1) \| Respond to of 99985

Don, what's shaken pal? I've updated the SPX hourly fork for today...and added a few comments from last nights charts. edit: I just added a NDX hourly fork(s) also...looks sweet. I don't have it on the MDA site yet, but I will have it linked tonight going forward. Here is just the chart link: geocities.com

To: donald sew who wrote (20107)	7/14/1999 1:54:00 PM
From: bobby beara	Read Replies (2) \| Respond to of 99985

>>>The PPI came in quite good but the market is selling a little. Just another hint that for the short-term(1-5 days) the momentum for the overall market is lessening.<<< Donald, It appears that we did have a buying climax with the shooting star on July 5th, but we are working off the excess with a trading range and the momentum generated with the Greenspan mega week (similar to the Greenspan mega week off the october lows) will send us higher. bwdik, bb