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

To: Les H who wrote (38693)	1/31/2000 7:51:00 PM
From: Les H	Respond to of 99985

WHAT TO EXPECT NOW. ORD. We are long the SPX for mutual funds purposes on the close today. The ARMS Index closed Friday at 1.80. Readings above 1.30 on the close predict a bottom the next business day or the day after. The low appears to have happen today. The "5 day ARMS" Closed Friday at 6.14. Readings near "6.00" appear near short term lows. Today in candlestick charting on the March S&P's a "Bullish Engulfing" pattern formed. A two day blinded candle draws a bullish "Hammer" and this bullish "Hammer" is big. The bigger the bullish candle pattern at bottoms the stronger the signal. On Friday a bullish downtick reading of minus 1100 was recorded and today a bullish 897 downtick reading appeared. Downtick tick readings exceeding minus 900 appear near short term lows. The VIX (Volaitility Index) hit over 30.00 three days in a row. Vix readings over 30.00 appear near short term lows. How far the market retraces the previous decline will tell the longer term strength of the market. In other words, if the market can retrace 61.8% or more of the previous decline, than a sign of strength will appear. We will let the market tell it's story on this next retracement.