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

To: HairBall who wrote (27896)	9/29/1999 5:43:00 PM
From: Jerry Olson	Respond to of 99985

Sure LG..today the NYSEBP gave a sell signal, and all the other P&F indicators are now on sell signals too..they've broken double and triple bottoms on the charts... however..i would like to say, that, these indicators are very oversold..one is in the 10-12% area..i guess it could go to zero<G>...but i don't think so... so for the short term the signal is negative... now..as we move into AG next Tues..a washout selloff could ocurr....then LG my senario of a major explosive move up would be right there on that day...if he doesn't raises rates...if he moves to a tightening bias, i would take that a BIG negative...everyone would understand the actual rate hike as a "take back" of the 3 last year..and that would be it..but i think were slowing right now...anyway...my guess is no move..period... as we all know oversold/overbought can continue for months...but i think from the July highs to right here, thats 3 months, moving into the 4th...with a long grind down type correction...we could putin a good bottom here.. lets watch the VIX...and other indicators for this possibility.... i will report any reversals UP in any of those indicators here, because from these levels..all future rallies will very strong..in fact the DJBB, that bond index reversed up into a col. of X's...interest rates might have bottomed out here...a real possibility... all the best OJ...