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

To: Haim R. Branisteanu who wrote (32409)	11/5/1999 1:08:00 PM
From: donald sew	Read Replies (1) \| Respond to of 99985

Haim, Surprisingly, I have no CLASS SELL signals today even with the market up so much. The NAZ has a NEGATED CLASS SELL signal which basicly says that my short-term analysis is useless for the time being. Once the CLASS SELL SIGNAL is negated, theres no way to determine per my short-term analysis where the top is. It could continue moving up strong or just reverse at any time. However, just using simple charts on the NAZ, it is quite obvious that the NAZ has gone parabolic and with all those gaps some of them if not all of them should get filled. Im going to make a tough call, and am not backing it up with a trade, since it is dangerous - Im calling for a short-term top on the NAZ by MONDAY if not today. The pullback to be about 1/2 of the parabolic move which should be around the 2950 range. I would not be surprised, as bullish as things look, for the NAZ to revisit the 2950 range prior to the FOMC meeting. Again Im not backing this call with a trade, since technical breakouts are very dangerous. Last FRIDAY I got a CLASS 1 SELL signal on the DOW and FRIDAYS highs was broken today on a intraday basis. If the DOW does not close above last FRIDAYS highs of 10790, then I will interpret that this rally may not be as strong as so many believe. I closed some more my long positions, but have not initiated any new shorts yet since I still have some per a previous BOX I initiated. seeya seeya