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: Les H who wrote (23201)	8/17/1999 12:41:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Tough market to trade this week. Market testing weak support levels here unsure of where to go next. I think watching the bond 115.03 level may give a clue. The equivelent TYX would be 6.020 I estimate. With bonds showing strength, the market may just be playing expiration unwinding games although the market did run up in anticipation of the report whereas the bonds did not do so to the same degree. MSFT, DELL, SUNW and SOX stocks are weak which is not good and many of the stocks that were at critical levels straddling the bullish and bearish forks I had placed have chosen the bearish set as of this time discounting a closing rally. I do however have several market gauging stocks that are still bullish such as GE but they are the minority at this time. Seems the market is at a decision point and can't quite make up it's mind. TRIN is bearish but the OEX is still holding up fairly well despite the strong negative TICK attacks. The TRIN has repeatedly tried to back off but is always met with heavy selling to send it back up. I can't help but wonder if the OEX max Pain around 683 is playing a role here. XAU was at a decision area also sitting on my middle tine after a pullback and so far has bounced upward which is a bit bearish for the rest of the market. I did have a sell signal onthe Oil indexes so that may relieve some inflationary fears for the marif it proves valid. I am uncertain if the intra day chart is forming a descending triangle of a rounding bottom but only time will tell. I am anxiously waiting the lunch hour end for a move one way or the other. Hope they don't head fake it too bad. EDIT - It appears that a buy program is kicking in. Lets see how the market reacts. Will they sell into it or join in? Good Luck, Lee