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

To: John Madarasz who wrote (33634)	11/18/1999 7:32:00 AM
From: donald sew	Respond to of 99985

Hi, For the overall market we got our DOJI,SPINNING TOP,BLACK DAY which is a sign of a short-term top. The response to my CLASS SELL signals were timely, which implies a normal pullback. So many bears have capitulated. That is not to say that a huge selloff is forthcoming, but Im starting to feel that the upside may not be as high as so many think. So Im also starting to think that we may be back in a trading range with the range shifting a bit higher or with a slight upward bias. For the intermediate term that is still bullish, but not as bullish as many expect. The factors which I believe may be limiting the upside are: 1) CRUDE OIL - clear uptrend with upside targets of 27 & 30 2) CRB - is not dropping. Appears to be forming a base for further upside 3) MARKET INTERNALs took no time to turn a bit more negative 4) DOW THEORISTS - The TRAN & UTY are far from strong I realise that by saying anything negative about the market, some will immediate label one as a bear. Right now Im still intermediate-term bullish, but just highlighting some factors that may limit the upside. Seeya