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

To: bobby beara who wrote (27770)	9/28/1999 9:18:00 PM
From: stockycd	Respond to of 99985

bobby, We have recently had similar multiple hammer days. One chart that really sticks out is the NDX around Aug 2 of this year. Can't see us rallying into the FOMC meeting this time...I think we are banging our head on support that has been broken. Further downside to come. You heard it here first----SPX cash under 1200 by the end of October.<ggg> Chris

To: bobby beara who wrote (27770)	9/28/1999 9:21:00 PM
From: Jorj X Mckie	Read Replies (2) \| Respond to of 99985

BB, Watching the SPX today ran me through the whole emotional gamut. But all of the P&F indicators are still negative. I have to believe that the NYSEBP is getting close to a support point at 40% (won't know until tomorrow), but this could provide support for a slight bounce. If the NYSEBP hits 38, it would be a significant P&F sell signal. SPX broke through support DJIA broke through support NDX came close to support at 2360 and then reversed to a point where it is close to resistance at 2450. A break to 2350 would be pretty negative and a break to 2460 would be pretty positive. From a P&F point of view there is nothing to get too bullish about, though the BPHILO is in an extremely oversold areas, which may portend a short term up turn. I is still a bear, JXM