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

To: HairBall who wrote (889)	12/8/1998 3:26:00 PM
From: Les H	Respond to of 99985

Using the paintbar for 1% or greater down days on volume increase from prior days will usually signal the end of an uptrend. Last week had two such days. The market will usually go into a non-trending mode where the bulls and bears fight it out with whipsaw days. This usually also signals increased volatility and the VIX should start trending higher. In a downtrending market, more of these big down days occur. The test for the market is the lows of the early November consolidation at 8700. A lower low and a recovery rally to follow may signal the top is in.