Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Smooth Drive who wrote (1653)	12/14/1998 6:15:00 AM
From: Bwe	Respond to of 99985

Wonderful post, Eric. Your charts and analysis are right on the money. Here's the latest market outlook from Chartcraft: "Longer term indicators remain bullish, but the short term ones are negative. Sentiment readings are also negative. Be cautious here. The NYSE Bullish % pulled back a bit, but is still positive. Underlying (Optionable Bullish %) close to downside reversal. That would be a negative." Michael Burke 12/9/98 Chartcraft's Broad Industry Group Bullish % sum also reversed down this week for another negative. Still more RS upmoves for individual stocks this week than downmoves. RS numbers as follows in the Option Stock universe: RS Upmoves: 144 stocks (NYSE 51, OTC 88, ASE 0) RS Downmoves: 51 (NYSE 36, OTC 14, ASE 1) Take care, Bruce

To: Smooth Drive who wrote (1653)	12/14/1998 8:06:00 AM
From: HairBall	Respond to of 99985

Eric: Thanks for that very thorough analysis. I amazed daily at the quality of post on this thread. Regards, LG

To: Smooth Drive who wrote (1653)	12/14/1998 9:21:00 AM
From: Challo Jeregy	Respond to of 99985

Thank you Eric for posting such a beautiful picture of supply and demand. Your hard work is appreciated by us all, I'm sure. Just P&F it! challo

To: Smooth Drive who wrote (1653)	12/14/1998 8:30:00 PM
From: HiSpeed	Read Replies (1) \| Respond to of 99985

Excellent post, Eric! From a PnF stand point and looking at the 20 x 60 DJIA chart....it looks like today the dow tanked right through the BSL. When this happens do we go to the next chart? I ask because it looks like the market went through the 8740 BSL significantly. From a PnF stand point and looking at the 50 x 150 DJIA chart, would you say the BSL should hold (8700) or the ST uptrend (8500) will hold? And if we fall through those the next level of support is around 77-7800. Correct? I recently bought Dorsey's PnF book so I hope to contribute from this view soon. TIA