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

To: pater tenebrarum who wrote (28362)	10/4/1999 6:04:00 PM
From: Les H	Read Replies (1) \| Respond to of 99985

BOTTOM LINE ON THE MARKET. October 4, 1999. ORD ORACLE. December S&P's seems to want to hold up a bit longer. The December S&P's traded above and closed above the previous high of 1308.50 today hitting a high of 1319.00 and closing at 1318.70. Since the market closed above a previous high on increased volume, you have to say the short-term trend is up. On today's rally the tick index readings did reach over plus 600. Uptick readings exceeding plus 600 are bearish. No bearish candle was drawn today in candlestick charting. The "5 day ARMS" closed at 4.53, which is on the bearish side of neutral. There is a pretty big gap near the 1350 area and most big gaps eventually get filled. There is a good chance the market will make an attempt to fill the 1350 gap. When the market was at the previous lows near the 1280 area, the "5 day ARMS" indicator stayed near a neutral level. When this happens near lows, the market usually does not have a strong rally. The market could bounce to the 1350 level first before heading lower.

To: pater tenebrarum who wrote (28362)	10/5/1999 2:11:00 PM
From: Don Green	Read Replies (1) \| Respond to of 99985

Japan Plans 3.5 Trln Yen In New Public Investment Spending Wednesday, October 6, 1999 TOKYO (Nikkei)--The government and the ruling coalition decided Tuesday on about 3.5 trillion yen worth of public investment as key part of a second supplementary spending bill. "Public investment in the second fiscal half will be at least as much as last year," Finance Minister Kiichi Miyazawa said Tuesday evening. Public investment is defined as spending for public works and for items such as social welfare facilities and public elementary and middle schools. Public investment totaled roughly 3.9 trillion yen in last fiscal year's third supplementary spending program, equal to 3.4 trillion yen after excluding 500 billion yen put in reserve for fiscal 1999 public works budget. Miyazawa's comments consequently suggest public investment in the second supplementary spending program should total around 3.5 trillion yen. In addition, analysts say public investment could increase as the three parties in the ruling coalition negotiate the contents of the spending bill. (The Nihon Keizai Shimbun Wednesday morning edition)