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

To: HairBall who wrote (20172)	7/15/1999 8:53:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

I am using semi log, I also don't like the smaller charts but caved in to the e-mails and PMs. That chart does show ion my big screen version that the NDX peaked slightly over the resistance line also. FWIW, I am getting class 2 and 3 over bought signals on numerous leader type tech stocks and my over bought list scan is growing huge. I still see an upside bias to the market but the growing number of signals is seriously starting to cramp my enthusiasm. There are some charts where my signals have been right a high majority of the time so either we are already ina blowoff top scenario or some unknown news factor is just around the corner that is going to let the pressure out of this market in the extreme short term. The DOW still has plenty of room to run up butthe OEX, NASDAQ and NDX are already triggering over bought and most of the big leader techstocks are signalling also. Any drop inprices on some of these and I have to follow my system and go short. Ignoring my system on SOME of these stocks has cost me money in the past. Note that my signals do not work for all stocks and indexes so blindly following my dots is not advised. I have the luxury of being able to go back years and see how they did where to the visitor of the sites, are stuck only being able to see the last few months or so of my data. TRIN is turning down again so another brief rally could happen. Good Luck, Lee