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

To: HairBall who wrote (59)	12/3/1998 1:52:00 AM
From: epicure	Read Replies (2) \| Respond to of 99985

I find the divergence between the transports and the other indices interesting. The iix is my favorite to put right now - it looks awful on all timescales. 4 day has a rickshaw man, daily a bearish engulfing all the indicators show way overbought- macd stoch turning down The transports are the exact opposite being the most bullish, still- we are probably near a top- but could be several days away- bullish engulfing on the 2 day, bullish continuation on the 4 day, small morningstar like formation on the daily and all the other indicators look pretty perky too. If there is a general nosedive in the market it will be interesting to see whether it can drag the transports down with it. I think if I were going to play pops in the downturn I might try for good looking transport stocks (wish i didn't have AMR puts<g>) The NAz had a bearish engulfing on the 4 day followed by a non- confirmed piercing pattern- I take that as a bearish sign The Sox looks good on the daily, very good in fact, but the 4 day with the hanging man make me think the end is near- sure hope so I am betting MU will take a tumble (MU could go up as its daily chart is still ok but the 4 day chart is less sanguine) Sp-500 daily bearish engulfing/tweezer top followed by some small bodies that stayed within the large black body of the bearish engulfing candle- could be a set up for something that looks like a mathold, or a falling three methods- 4 day chart has a Harami