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

To: TimbaBear who wrote (20340)	7/17/1999 1:19:00 AM
From: bobby beara	Respond to of 99985

>>>but there is nothing that I see that indicates a turn-around just yet....looks like a retest of old highs is coming....IMO <<< timbabear, there is nothing to indicate a retest of the highs either, on the weekly chart so far we have lower highs and lower lows, which indicates the sellers are still in control, stochastics turn positive on dead cat bounces also and don't guarantee new highs. the longlegged tops on the weekly candles also don't look good for the bulls, take a look a the long leg on the july 98 top weekly candle. bb

To: TimbaBear who wrote (20340)	7/17/1999 9:29:00 AM
From: Terry Whitman	Respond to of 99985

I knew we'd get some chart reading if I begged enough. <g> Agree that things look much better on the weekly chart. It too looks somewhat indecisive. However, since there's no left shoulder, and a lack of a blow-off spike, it does suggest another higher high could be left after a test of support. No guarantees though. And as Dennis suggests- Good luck trading it. <g>

To: TimbaBear who wrote (20340)	7/17/1999 10:10:00 AM
From: TimbaBear	Respond to of 99985

BB...Maybe we're looking at different time frames for our respective anaylses?.....if I look at either this last leg up or from 1/99, I see higher highs and higher lows....I can see your interpretation if I look from the peak to now.

To: TimbaBear who wrote (20340)	7/17/1999 11:45:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

I agree, I still have the nuts long term weekly in an upfork and I believe I still have the daily charts in an uptrend too. My index charts are available off my link at the MDA site. My daily charts on many of the nuts themselves however show a short term up potential in a downtrend. Not quite sure why the indexes are still upward and the individual nuts are downtrending though. Must have to do with the way they are weighted or the few strong ones like EXDS' late rally. Jim is the master of index manipulation so I will let him comment on that phenomenon. Good Luck, Lee