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

To: Magnatizer who wrote (13)	12/2/1998 10:24:00 PM
From: stockycd	Read Replies (2) \| Respond to of 99985

All, Great thread! A couple reasons why I think this bull market is for real and not over by a "long" shot. Dow Transports: The last couple of days has showed strength and has created a short term trend line starting at the 11/12/98 dip. If the transports do not drop to the 2960 range in the near term, that would be bullish. Gold is heading lower, lower, lower. Not that it's a clear indicator but when the October crash started, gold was peaking on a uptrend. If gold started to make a honest recovery, I'd be concerned. The dollar is improving against the Mark. This is good. Uncle Al has assured us of liquidity. The FED will just step back in if things look to bad. One thing that has me a bit concerned is the recent layoffs and warnings. Hopefully this is a lagging indicator and will be perceived as good news or "the worst is over". Any drop of the INDU below 8855 would be bearish. Looks as though this selloff may be losing strength. I've been thinking all along that if we don't drop like a rock from the highs we'll be OK. Most selloffs tend to occur at a greater slope (rise/run) than the rallys, unless we are indeed in a bear market, which it would be the opposite. The futures are down right now but that's because most of SEA is down. The Nikkei was due for a selloff these last few days. It's been riding a pretty good uptrend since Nov 1. It broke a short term uptrend on 11/30. I think it should land in the 14600 area and start up from there. Maybe we'll get close to that tonight with a bullish inverted hammer and start back up. These are my opinions and not a recommendation to buy or sell. Chris