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

To: HairBall who wrote (1274)	12/10/1998 10:00:00 PM
From: SE	Respond to of 99985

Mainly working with the MACD divergences which I have been watching for several weeks now. Getting better at them, but still needs work. I would love to be able to set targets and time frames, but that may be asking for the holy grail! :) Anyway, I have bullish divergences on the 1 through 10 minute charts and that should provide some support for a small upmove and since the divergence is from late TUES through the close today, I think it will last for the better part of the morning, maybe into early afternoon. If you go to a 15 minute chart the divergence starts to get smoothed out so it is not a very strong one in my opinion. However, the overriding picture is a bearish divergence on the longer term charts...and that says down down down..... Anyway, I am out of here. Gotta go have a couple drinks and some fun to blow off today's trade. See ya tommorrow.... -Scott

To: HairBall who wrote (1274)	12/10/1998 11:27:00 PM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 99985

When I first posted the H&S I was seeing, my targets were 8450 for the first one resolving and 7550 for the second. We would have to have a bounce for the shoulder to form on the second and larger H&S to finish out. Of course I am not saying this scenario will pan out but it has been doing a pretty good job so far. Not sure what news could move this market higher and I see much in the way of bad news. Earnings are still lousy and the MMs have run this puppy up on nothing but hype IMO so they could get a second crack at shorting. Semis are at new highs? Give me a break, I work in Analysis. It is an office full of computer geeks and they are all buying new AMD machines NOT Intel. MU is a joke and we have known it all along yet it hit 55 for cryin out loud. Tonight NSM missed big yet no one even mentions it. All the rate cuts in the world can't justify higher PE ratios when there are no earnings to divide by. <g> I really don't expect my second H&S to pan out since I think this market will not let the bull die peacefully but will instead use many Picadores (sp) to slowly bleed it to death. My long term plan has us finally giving up in Spring 99. Besides if Gore becomes President, Tipper won't let us trade naked any more. <g> Lee