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

To: Smooth Drive who wrote (28887)10/8/1999 9:07:00 PM
From: HairBall  Read Replies (1) | Respond to of 99985
 
Eric Stevens: Thanks for the contribution. Long time no see...<g>

I look forward to your follow up post.

Regards,
LG



To: Smooth Drive who wrote (28887)10/9/1999 4:29:00 PM
From: Jerry Olson  Read Replies (3) | Respond to of 99985
 
Hello Eric

long time no see??? where the heck have you and Bruce been hiding???

i always enjoyed your thoughtful posts and chart reads...Bruce's as well...top knotch thinking all around..

not only did the Hi/Lo reverse up, but the 10 week will too on Mon or Tues..

2 short term Piffing indicators moving up from very oversold levels...i think we'll see one more last gasp attempt at a higher low/or bottom...
as per the case when they do reverse up we selloff for 1-2 days..funny how that works...

and,some time late Wed into Thurs i would pick as the start of a nice run into new highs...

if the market shrugged off Greenspan, in what i would call a negative report, and then of course thumbed it's nose at the empl report...nothing stops this market for now..

it will take a full flegded rate hike to stop this behemouth...this money train...the fundies will NOT miss this next ballistic run...not a chance...

and thru this time period, which has negative conotations because of past history, i say, it reverses that,this month, and OCT becomes one of the BEST Oct's on record...

looking out to the next FOMC...if in the week of the 18th, the PPI and CPI are soft, and what with OIL plunging as i thought it would...picture AG leaving rates alone and moving BACK to NEUTRAL....heh heh....

a bullish catapult????????<GGGGG> for real!!!!

i always knew OIL was unimportant in the scheme of things, and we could have lived nicely with $20.00 OIL, obviously 25/26 was ok too...

i see the country slowing now...not dangerously, but it will happen..and this before the 2 rate hikes even come into play here..that's usually 3-6 months down the road...

it seems to me, the FED is real doing an excellent job, in keeping things on a very even keel, for such a long long time...

well anyway Eric, i sold some puts last week on the knock down, i knew this knee jerk reaction was gonna happen...and went quietly longsome selected nets..and indexs...

please stay in touch more often...i like to see those wonderful charts with the explanations that go along with them...

my very best to you...OJ...



To: Smooth Drive who wrote (28887)10/19/1999 11:59:00 PM
From: Smooth Drive  Read Replies (1) | Respond to of 99985
 
NEW HIGH NEW LOW BULLISH % CHART

This chart is constructed by taking a 10 day moving average of the New Highs divided by New Highs plus New Lows (over 52 weeks).

The chart bottomed on 9/29/99, reversed up on 10/08/99 (at which time I wondered if it would be a head fake siliconinvestor.com and reversed back down at the close of today's market action. 

80
78                 X
76         X       X O
74         X O     5 O 
72         X O     X O 
70     X   X O     X O X 
68     X O X O     X O X O 
66     X O X O     X O X O
64     X C 1 O     X O X O 
62     X O X O     X O X O
60     X O X O     X O X O 
58     X O X O     X O X O
56     X O X O     X O X O
54     B O X O     X O 7 O
52     X O X O     X O X O
50     X O X O     X O X O
48     X O X O     X O 6 O
46     X O   O X   X O X O
44     X     2 X O X O X O
42     X     O X O X O   O
40     X     O X O X     O X
38     X     O X O X     O X O
36     X     O X O X     O X O
34     X     O X O X     8 X 9
32     X     O X O 4     O X O
30     X     O X O X     O X O
28     X     O X O X     O X O
26     X     O 3 O       O X O
24 X   X     O X         O X O
22 X O X     O X         O X O
20 X O A     O           O X O 
18 X O X                 O   O A
16 X O X                     O X O
14 X O                       O X O
12 X                         O   O
10 X 
8  X 
6  9

Chart hit the 6% box on 9/3/98 and reversed up with an outstanding leading buy signal on 9/22/98. The double top buy signal at 26% (a Bull Confirmed Signal) removed all doubt on 10/21/98.

A great bottom is forming in this chart. Some of the biggest runs have occurred when this chart reverses up from below 10%.

Take care,

Eric



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