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

To: Les H who wrote (36491)	1/3/2000 7:05:00 PM
From: Les H	Read Replies (1) \| Respond to of 99985

WHAT TO EXPECT NOW. ORB ORACLE. Timer Digest (203) 629-3503 has us ranked #3 in performance for the last 12 months in the December 13 issue. On Friday December 31, on the close, a plus 1138-uptick reading was recorded. Closing uptick readings exceeding plus 1100 almost always appear at tops and this time was no exception. In candlestick charting on the March S&P's a "Bearish Engulfing" pattern formed. We like to note that the more days this pattern engulfs the stronger the signal. Today's "Bearish Engulfing" pattern engulfed the last five trading days. Therefore this signal is extra strong. The bigger pattern (going back to the December 1 low) looks like a "Rising Wedge" pattern. This pattern has a downside target from were the pattern began, which is the December 1 low of 1405 on the March S&P's. That equates to the 1390 area on the S&P cash index. "Wedge Patterns" are time out to an up-trend. In other words, once the next low is found the market is expected to rally back up and re-test the recent highs at a minimum and possibly keep on rallying. Therefore we are only bearish to the 1405 area on the March S&P's, than bullish from there. The McClellan Oscillator hit +163 on Friday, which implies the start of a worthwhile rally to the upside once this short-term correction is out of the way.