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

To: pater tenebrarum who wrote (30415)	10/18/1999 12:53:00 PM
From: Lee Lichterman III	Read Replies (3) \| Respond to of 99985

Well we are approaching a few of my possible short term support areas so we could bounce but the market is giving no hints of such yet with lower lows and lower highs so far on each cycle intraday. A few bullish signs are the Bank and isurance stocks holding up well but new lows and new highs along with Advance decline eroding all day. NYSE was trying to put up a fight with the NASDAQ looking bad right out of the gate but inthe last hour, the NYSE is joining in the selling and when I last checked AD was 2-1 negative and NASDAQ AD had grown worse with 2-1 but a whopping 4-1 negative on the volume. Dollar trying to hold up trending upwards. Not sure what to think yet. I feel we are approaching a possible short term bounce area but there is NOTHING to show we are at a mid or long term bottom yet from what I have seen. Opposing arguments welcome as I really want to take a long position but don't want to fight the fed, the trend, the AD, etc etc etc. EDIT - To "Gary" who e-mailed me yesterday, I tried to answer your e-mail but it was returned undeliverable. Congrats on your trade but don't get too greedy. <g> Good Luck, Lee