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

To: Doo who wrote (36564)	1/4/2000 11:38:00 AM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Jeffry, a few days, even a few weeks, of weakness are not proof that it's over. we'll have to carefully monitor how sentiment data develop in the course of this pullback. the October low was marked by the Consensus Inc. bullish consensus dropping to 20%...in the absence of a major financial crisis this kind of reading often marks important lows. of course we have seen signs of distribution in the latest rally phase and as they say, no bell rings at the top. still, the cycles point up again beginning on 01/19, so it probably pays to stay nimble... i agree btw. that once the game IS over many will not realize it. note that the ratio of bond yield to S&P earnings yield would reach the exact level reached shortly before the '87 crash when (if) the bond yield reaches 6,97%...something to keep in mind. hb