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

To: stockycd who wrote (20840)	7/22/1999 6:52:00 PM
From: pater tenebrarum	Respond to of 99985

Chris, we still have several gaps to fill that occurred on the way up. the last one was right at the beginning of the latest rally and many expected it to be filled as well; maybe it will be. regards, hb

To: stockycd who wrote (20840)	7/22/1999 8:56:00 PM
From: Lee Lichterman III	Respond to of 99985

That is a bit high to bounce but I do have a new trend line there that will show up once I post my charts. I added some bearish forks since I feel that we may have had a change of bias now and we have talked of a down turn in August for months now. If we don't use the fork now, we can use it later <g> I am going through my charts now and have a few points of interest. We are on the verge of breaking out of the TYX 30 yr bond rate short term downward fork. The new fork which will point up points to a minimum interest rate target in August of 6.25% with a possible target of 6.5% by mid to late August and that target gets more likely as time passes past that point. I have numerous over sold signals on stocks and sector indexes some of which will be false due to the extreme strength of the down move so double check the trendlines and other indicators before blindly leaping. Still I have already seen a few that look very promising. Again, I think that due to the position of the various indices in relation to support lines, fork tines etc that we will likely have a morning dip then a good chance of at least bouncing back to the opening levels if not higher. >>Besides, we can't go straight down, can we?<GG><< Never tempt or tease the market <GG> Good Luck, Lee