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

To: donald sew who wrote (1349)	12/11/1998 12:55:00 PM
From: HairBall	Respond to of 99985

donald: The DJI rounds to 8714 at this time. Regards, LG

To: donald sew who wrote (1349)	12/11/1998 1:22:00 PM
From: NickSE	Read Replies (3) \| Respond to of 99985

donald, OT Here a little info on the proceedings. Something everyone should be aware of as to it will definitely have a serious impact on the markets. cnn.com washingtonpost.com If one or more of the articles of impeachment clear the committee, the vote in the full House is tentatively set for December 17. IMO, I expect the market to see increased selling pressure as we approach the vote in the House. Too much risk involved holding positions through the proceedings with the possibility of a vote for impeachment. If the House votes for the articles of impeachment the next step is the Senate where they deliberate the impeachment articles voted for by the House (sort of like a jury). The Senate is where the final judgement will take place and will require 2/3rds vote for impeachment. Does anyone have a schedule of how the hearings will proceed/when significant news will come out from the hearings? If CLINTON is impeached, there should be a knee-jerk reaction to the downside. Hope this helps, Orbit

To: donald sew who wrote (1349)	12/11/1998 2:12:00 PM
From: dennis michael patterson	Read Replies (1) \| Respond to of 99985

Jerry Favors Analysis - Friday, December 11, 1998 12:30 p.m. At the lows this morning the Dow was down over 73 points. The Dow has bounced off the lows but the breadth is still weak. Unless that breadth can improve dramatically between here and the close the Dow is still vulnerable to a much sharper decline this afternoon. If we do see a stronger decline this afternoon the bottom of the 21-Day 3 1/2% Exponential Trading Band should be near 8657 intraday today,so there would be support in that area. There is also initial support for the NYSE cash index near 558 plus or minus 1.50. If the NYSE cash were to reach 558 and the Dow were to fall a similar percentage the Dow would reach the 8717 area,plus or minus 40 points or so. Nevertheless we still look for a low in this December 11 plus or minus 1 day time frame. We will take no new action just yet but we will give a new buy signal for short term traders once we believe the low is in.