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

To: dennis michael patterson who wrote (23139)	8/16/1999 5:20:00 PM
From: Benkea	Read Replies (1) \| Respond to of 99985

dennis: "Be careful! Favors has been right in the past (see, e.g., last July)" If you flip a coin enough times, you will get heads about 1/2 the time :) and dennis, I am not even going to charge you for that prediction :)

To: dennis michael patterson who wrote (23139)	8/16/1999 6:35:00 PM
From: Les H	Respond to of 99985

WHAT TO EXPECT NOW. ORD ORACLE. This is the fourth day in a row the "5 day ARMS" closed at 4.10 or below. Readings near "4.00" and below appear near tops. The longer the "5 day ARMS" stays near "4.00", the more the bearish implication are once the market starts down. Four days of readings in the "4.00" range is a very bearish sign for the next decline. There is a possibility the September S&P's could rally to 1360 area before the next down leg begins. That is where a gap is left open between July 28 close to July 29 open. Markets will go to an unfilled gap. Today in candlestick charting on the September S&P's, no bearish pattern was drawn. Therefore, according to candlestick charting the short term up-trend is intact. Volume will usually expand and the market trades in a narrow range near a resistance area. Volume is very light today implying the up-trend is intact. The bigger trend is down and the smaller trend is up. The September S&P's may rally to 1360 area and hit resistance. The 1360 area could be where the next sell signal is generated. marketweb.com