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

To: dennis michael patterson who wrote (1390)	12/11/1998 4:42:00 PM
From: HairBall	Read Replies (2) \| Respond to of 99985

dennis: My stuff does not infer the magnitude of moves, just the direction. I am expecting resistance around the top of the recent resolved inverted bearish flag pole on the DJI. That would be in the area of 8870/8880. However, I am not sure it will get that high. I think donald is expecting more of a move up. However, I will not speak from him. I am sure he will be posting an INDEX UPDATE this weekend. If after additional analysis, I turn up something, I will post it Sunday. (All Disclaimers Apply) BWDIK Regards, LG

To: dennis michael patterson who wrote (1390)	12/11/1998 6:20:00 PM
From: GROUND ZERO™	Read Replies (3) \| Respond to of 99985

Dennis, A rally of 50-75 points to about DOW 8875-8900 will be met with heavy selling pressure and will stop any further rally dead in it's tracks. The advance/decline cumulative shows me that the rally of the past two months was thin and driven by the hopes of further rate cuts. There was no real buying interest as a function of expected higher earnings, a true bubble. Reality is slowly but surely setting in, and investors are nervous. A great time to be short. Of course, you must realize, if the markets rally to new highs from here, I didn't write this post. My Best Regards. GZ