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

To: Les H who wrote (35119)	12/13/1999 9:35:00 PM
From: Les H	Read Replies (2) \| Respond to of 99985

WHAT TO EXPECT NOW. ORD ORACLE. Timer Digest (203) 629-3503 has us ranked #2 in performance for the last 12 months in the November 22 issue. Some interesting developments have accrued recently. Last Thursday's pull back produced downtick readings reached minus 1460. Downtick readings exceeding minus 900 appear near short-term lows. The higher the downtick reading exceeding minus 900 the stronger the bottom. A minus 1460-downtick reading suggests the market is in the process of making a strong low. If the market can't go down because of the minus 1460-downtick reading than it will probably rally. Also, the minus 1460-downtick reading coincided with a bullish candlestick pattern called a "Hammer". This condition triggered a bullish short-term signal. We do still believe the market will decline, but the decline may not show up till January and at a higher level. Fibonacci relationships form the October 18 low remain bullish. This is expiration week and volatility usually increases later in the week. The "5 day ARMS" and the McClellan Oscillator both of which use advance decline issues look weak and suggest the market is near a high. However the market can correct itself going sideways and puts off the decline tell January. Still on the sidelines, as we don't see a safe trade yet.