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

To: pater tenebrarum who wrote (20736)	7/22/1999 9:28:00 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

heinz blasnik: The Overall Market rallied strong after breaking above of the bullish formations. Both the NYSE Composite and the NASDAQ Composite set multiple new highs. As expected the OMC (My Overall Market Composite Index) ran into overhead resistance lines and began to retrace in a consolidation move. A fairly quick move down signals to me the underlying apprehension of investors regarding this Market. I suspect when the final topping process to this long-term Bull goes in motion, the Market is going to get very volatile with major whipsaws. Investors got a taste of this during last year's decline. Of course, each Market top starts out as at first a short-term top. So, the ability to determine if such is a short-term consolidation, a medium-term correction or greater, is the trick! <g> I am glad I closed my intraday trades on the “inutz” before yesterday's close as usual or I would be looking at giving back much of my gains at the open. However, I suspect the Market is not over its climb, but it still has some consolidation to complete. Regards, LG Disclaimer: The above is my opinion only and I reserve the right to be wrong. Do not base any investment decision solely on anyone person's views or analysis. Do your own research and take responsibility for your investment decisions.