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

To: Haim R. Branisteanu who wrote (23820)	8/26/1999 12:37:00 AM
From: bobby beara	Read Replies (3) \| Respond to of 99985

>>>BB all your charts stale, now that the drunks are out in force to fight the FED we need new ones <G><<< chart of the day - prettiest five waver timely.com If anybody owns this one, it's looking like it may have a hangover. some thoughts from swampboy bobby: Uncle Allan did make a nice turning point here digisys.net To go along with the five waver on CRUDE from the bottom the OSX is finding resistance at the neckline of top in 1997. Crude has topped and i believe we should correct the five wave advance maybe back to $16 area, bonds have bottomed and the world economy is now going to go in the annual 2nd half slump, that has been a happening ever since "worldwide goldilocks" was the dripping off everyone's lips leading into the Asian peaks in 1997. The multitude of contrary indicators in bonds recently i think will now kick in: lowest # of bulls since 1987 for a couple of months now. Anecdotal evidence from real estate that people were panic buying to beat rate increases. Today's LA times front page article "Fed Nudges Key Rate up to ward off inflation" Front page news the trend is finished. With gold hitting new contract lows i believe that deflation will return as the bogey man. There are some interesting patterns on the tyx weekly and monthly charts - i'll work on those. I doubt we will see Dow 12,000, because i think the cyclicals are going to have tough sleding here and techs and internets are going to be in the limelight for this rally and SPX will resume leadership, SPX 9 day rsi at 70, so we are reaching overbought area pretty quick, but it looks like we have to work off more of the bearishness that was created around the August 11 bottom, just got to watch the p/c and vix to indicate when the bulls have bitten off more than they can chew -g- oh ya, got to get martin armstrong and richard russell to throw in the towel again. T/A is a tough business, Dan Sullivan, The Chartist who had a 77% return last year, is up only 6% this year and got a mechanical sell signal on 8/11, he got one on 2/17, both fairly significant bottoms. T/a's run hot and cold depending on which indicators they use and how they fit the current market conditions. bb