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

To: John Madarasz who wrote (28331)	10/4/1999 2:57:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Thanks, I am home now so the market can feel free to get this phony bounce over with now. <GGG> Don, I agree with your outlook fundamentaly but as I st at work all night, my mind kept going back to how strong this market has beenin light of the bad news. When I was driving home and heard the market was up 125 points, it pretty much confirmed my thoughts. All those bounces we were over due for are piling up making us biased to the upside. Too late now but I think there is a lot of stored up buying pressure and the fund money usually lasts for 5 days after the first of the month so we could explode up huge. On the other hand, I just looked at an hourly chart and it is a tough call right now between an ascending triangle which is bullish or a bearish wedge. Seems the market charts have set themselves up perfect for the announcement then a reaction where we can look back and say, why didn't I see that pattern right and buy before hand. <ggg> I am going to try and catch up and see what I have missed. Any news as to why this rally happened this morning and then stalled? Bond closing as I type, should get crazy for teh rest of the day as the big money gets in position for tomorrow. Good Luck, Lee