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

To: Lee Lichterman III who wrote (31410)	10/26/1999
From: uclatrader	Read Replies (1) \| Respond to of 99985

add some more bullish thoughts here i have bullish divergence on dow, transport, spx and bkx and transport actually up for today shuo

To: Lee Lichterman III who wrote (31410)	10/26/1999 12:23:00 AM
From: Vitas	Read Replies (1) \| Respond to of 99985

Lee, one thing we did accomplish today is the a-d line stayed under the broken trendline drawn by connecting the low 8/10 and 9/24 in order to stay under that trendline tomorrow we need no more than 150 net positive a-d. decisionpoint.com so far we have rallied 40 spx points since the 18th on -27 net a-d. Another air ball? Vitas

To: Lee Lichterman III who wrote (31410)	10/26/1999 11:05:00 AM
From: j.o.	Read Replies (1) \| Respond to of 99985

Hi Lee - In ref. to your post..<<However if the market were going to drop, today had every excuse to do so and yet there were no bodies flying out windows on Wall Street>> When I was trading for banks, there was one very simplistic saying that held a lot of truth..."If it's not going down, then it must be going up!" <gggg> I agree with you that by most measures we're way too high, but I am not hearing any expectations for a 'blow-off top' right now. In a way that makes me suspicious. In the Dow we've nicely satisfied the 38.2% retracement requirement with our brief move just above 10,500 two days ago - but we're still above the uptrend support line (I see 10,340 roughly) on the hourly chart...I'll short a break of this, but until then I'm approaching this market with some caution. I would say that you have to buy a break of the falling resistance line on the daily chart. Looks like about 10,480 to me. Until one of these goes - I'm safely on the fence <gggg> Happy trading, j.o. indextrade.com