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

To: Lee Lichterman III who wrote (23282)	8/18/1999 11:31:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Deja Vue???? The bounce in the DOW is being fueled by money coming out of the NASDAQ. Note the NASDAQ was up 10 whebn the DOW was down 75 and now that the DOW is only down 60, the NASDAQ is up only 3. Money shortage??? I still see a lot of strength inthe stocks I track but all are huddling my middle tines right now or else are at resistance points. The OEX is sitting on the bearish fork's middle tine and the higher TICK and lower TRIN is not enabling it to move up much unlike earlier today. Looks like no one trusts it right now. EDIT - Just realized that the chart I have printed in front of me is not the same one posted on my site. They are close but I like this one better. If there is a break where I can re do my chart, I will switch it and post when I do so. DOUBLE EDIT - If the chart stays the way it looks right now, we are forming a rounding top that should top out excluding spikes around 698. Good Luck, Lee

To: Lee Lichterman III who wrote (23282)	8/18/1999 11:47:00 AM
From: Yogizuna	Respond to of 99985

I sort of expected some trouble for the bulls in the market today, as the Yogi Index reading of zero at yesterday's close usually means either support or resistance 70% to 80% of the time historically. Also, I got a lot of "to hold" signals last night on my system, which is another sign that the bulls have some resistance to fight through here if they want to continue this current rally. On the day of the low last week, I had four different buy orders in for some stocks I wanted to buy, but they moved away from my limit orders. I did pick up some HLR and WDC (woof-woof! <G> ) almost at the exact lows though. Yogi

To: Lee Lichterman III who wrote (23282)	8/18/1999 2:19:00 PM
From: Fun-da-Mental#1	Read Replies (2) \| Respond to of 99985

"NASDAQ is holding up with YHOO, AMZN, DELL, and MSFT" Yes, but everything else is going down. As far as I can tell this is driven by corporate news. On the plus side, good earnings from Dell and Lycos, new business plans at MSFT. On the minus side, a price war between online brokerages. E-trade now charges only $4.95 per trade! This fits with what many are saying: the internet will grow, but it may never be very profitable. Retail/consumer goods are in trouble, especially high-end ones, for example Saks and Estee Lauder. J6P's credit card is maxxed out. Coca-Cola just sold their British bottling division to a Greek company. This is just a year after they launched it with a much-hyped IPO! As I mentioned before, banks are selling their property assets. Attempts to prop up a sagging bottom line? Okay, a few examples don't prove anything, but I wonder if the consumer spending boom is passing its peak. Fun-da-Mental