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

To: RJL who wrote (1682)12/14/1998 12:20:00 PM
From: John Pitera  Respond to of 99985
 
60 minute SPX is right on 1150-51 Support Line, a break below 1150
ought to bring in a cascade of selling. Can it hold?

If It breaks then the bullish E-Wavers will have to look at the A-B-C
correction that began on Nov 23rd and did an A wave down into Nov 30th, then had a B wave up into Dec 8th and is currently in a wave c that will be 1.618 of the A wave at 1121 and change.

Just a thought

John



To: RJL who wrote (1682)12/14/1998 12:21:00 PM
From: HairBall  Read Replies (2) | Respond to of 99985
 
Richard: You may well be right. However, remember the NYSE cumulative tick is only a interval representation of the direction of the majority of stocks on the exchange and does not reveal the magnitude of those moves.

So, with that in mind, on occasion it can be misleading...and that is why the Indice can rise on a down cumulative tick, etc.

Thanks for you input.

Regards,
LG


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