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

To: LTK007 who wrote (22211)	8/5/1999 11:46:00 AM
From: Michael Watkins	Respond to of 99985

Not calling a bottom but I am mindful that the COMP has come down to the 200 D "weighted" moving average which often is a parking zone / purgatory while a market or stock decides which way is next. I've never run a big study on how useful the weighted moving average is, but I plot it on every chart I've ever looked at and it very often seems to define a channel between the 200 W and 200 EMA or SMA - I'm always cautious in this area. DJI still 250 points above 200d WMA SPX broke below yesterday (200d WMA was near 1315) - would seem that 1270-1275 is a forgone conclusion, just a matter of time, except it did almost touch support at 1282. Almost. Playing out much too like last summer, which would imply more downside. Seems too easy tho, time to be mindful of a possible bottom being put in? Good trading all.

To: LTK007 who wrote (22211)	8/5/1999 11:51:00 AM
From: Jack of All Trades	Respond to of 99985

Shorts need to cover you know and they are generally not as stupid as some of the longs that got margin calls...

To: LTK007 who wrote (22211)	8/5/1999 12:16:00 PM
From: HairBall	Read Replies (2) \| Respond to of 99985

max90: I suggested the decline was due a retrace today. I suspected the bounce could be launched from support areas as of yesterday's close. It seems the "big boyz" wanted to generate more selling and run some stops placed below those support areas. The deed was done, the results were achieved and now the retrace has begun. Notice, I said retrace! I think swings are going to accelerate, as last year. All the better for the "big boyz" to pick individual investor's pockets... NOTE: CNN just reported two more office shootings....anyone know a good bullet proof vest company??? <gg> Regards, LG