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

To: donald sew who wrote (31363)	10/25/1999 6:55:00 PM
From: bobby beara	Read Replies (2) \| Respond to of 99985

chicken chart for the day: members.bellatlantic.net both the H&S pattern on the value line and Dow have been activated, and like the Dow the value line made a bear flag back to the neckline and sold off into the 1987 crash anniversary lows another marke twain rhyme is that the CBOE had the largest volume option day on 10/15/99 (p/c ratio of 1.05) since 10/16/87. This and the big spread on the front page of the newspapers on saturday turned out to be a bottoming signal. There are two alternatives now, either that was an ABC bull market correction or we will now consolidate in a wave 4 sideways pattern, until some news breaks us out of the range. Since the p/c ratios came back so quick to euphoric levels (equity only options on friday were .33) and the rydex ratio on decision point (and cboe p/c's) are not showing selling climax levels i believe another leg down may be in the cards.

To: donald sew who wrote (31363)	10/25/1999 7:59:00 PM
From: Jerry Olson	Read Replies (3) \| Respond to of 99985

Don.. while everyone is/was watching the usual indexs..i was watching the TYX... today it completed a bullish catapult pattern on P&F...let me put it this way.. if it were a stock i 'WOULD BUY IT"...<VBG> this index broke a triple top at 6.15 recently, ran all the way up to new highs, reversed down and now has reversed back up, made a double top buy signal..at 6.40... i would guess this is mucho negative for the markets, near term, and if this pattern plays itself out..and they usually do, we should look for much higher rates to come..maybe as high as 7.10-7.25.. this then leads me to think, we "could" see a .50 basis point move from AG, or..worse than that, a surprise move before the Nov 16th meeting..i doubt that possibility, but one never knows... on the heels of the GDP and ECI on Thurs, AG is "again" talking about the economy and the markets thurs evening... man this could be one terrible week for the bulls... i am shorter than ever before...and will stay that way, until i see the whites of someones eyes<GGGGGGGGG>....

To: donald sew who wrote (31363)	10/25/1999 8:30:00 PM
From: stockycd	Respond to of 99985

donald and thread, Just looked at the forks for the 60 minute NDX. The rally this afternoon made an unsuccessful attempt to break through a median tine at 2505 around 3-3:30. It then reversed down to end the day flat. A successful break of the 2471 area tomorrow morning will be the signal that the selling in the NDX is accelerating. BTW, the highs and the lows for the NDX today held very tightly in the rising wedge that has formed. It's just a matter of time... Chris