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

To: Trumptown who wrote (22604)	8/10/1999 2:05:00 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

Sting-Ray_57: Well, I would not call what is going on today "churning". Take a look at the TRAN and RUT. They led the move down last year. My OMC Index is nearing a major support area and is, as are many Indexes, very oversold. I will wait to see my "end of day" charts before prognosticating on any pause in this decline. However, I suspect looking at my OMC Index 60-min semi-log chart, one is in the making as I type. The OMC may move up to test the downtrend resistance line. Referencing an available Indices to compare to the OMC would be the SPX. Finding support in the area of the May lows and the 200-day SMA. Regards, LG