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


To: Les H who wrote (39579)2/10/2000 9:27:00 AM
From: HairBall  Read Replies (1) | Respond to of 99985
 
Les: I posted this chart a couple of weeks ago to bobby beara along with my take...

The VGY broke per the norm for the bearish triangle. The formation signals that at the least a partial retrace of the formation is a high percentage bet. However, it needs to continue down below the Oct low to continue the trend from which it started. In my opinion this may be the single most important index to watch at this time!

The low in Oct 99 was below 400.

My QChart VGY (Value Line Geometric Index) Daily Semi-Log Scale
marketdirectionanalysis.homestead.com

Regards,
LG



To: Les H who wrote (39579)2/10/2000 11:33:00 AM
From: pater tenebrarum  Respond to of 99985
 
Les, the VGY certainly looks ominously poised here...there's a big difference though between now and last year: as per the Fed model, stocks are now far more overvalued than they were then.

regards,

hb