Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: pater tenebrarum who wrote (22570)	8/9/1999 11:27:00 PM
From: kimberley	Respond to of 99985

from your lips... add that $ is weaker, asia isn't super stable, u.s market is sick, and all the little noise, i.e. everyone passing the buck on the BOE sale, russia buying, imf officially looking for alternatives to sale, etc. i can't ever remember a time when so many things have looked positive for gold. are we at the beginning of a shift? works for me. best, kim

To: pater tenebrarum who wrote (22570)	8/10/1999 8:01:00 AM
From: donald sew	Read Replies (1) \| Respond to of 99985

Heinz, My short-term technicals are getting back towards oversold again, but no CLASS BUY yet. If the market was to continue down 2-3 more days straight I would get some sort of a CLASS BUY signal. For the SPX, I have numerous support lines in the 1288-1275 range, with the most concentration near 1280. If 1275 is broken to the downside the next strong support area is around 1210-1220 and the 38% FIBINOCCI RETRACEMENT level from last OCT lows is around 1230. My weekly technicals are all in the oversold region, and some very oversold. I am still inclined to say that the downside for this week is limited and just retest the recent lows or just slightly lower. Then next week we could see some upside movement, but that should also be limited. My short-term cycles are getting messed up/hard to read. Now I am getting a short-term top around AUG 20, which is also expiration day. This revised schedule actually works better with the the statistics of the weekly performance in that expiration week is normally UP/FLAT, and that the week after expiration is normally down. For this week, I feel that the support line at 1275 should hold. As for the upside into next week, I still see flatness/zig-zags to around 1320 with a slight chance of a 1-day/intraday surge to 1340 and maybe even 1350. seeya