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

To: TRINDY who wrote (2079)	12/16/1998 8:46:00 PM
From: TRINDY	Read Replies (2) \| Respond to of 99985

Market Signals--12/16/98 DOW still looks weakest of the group of indexes I follow. It is in a definite negative trend with intermediate sharpness. S&P 100 and 500 considerably less weak, but still negative. NAZ continues to be the darling of the bunch, barely generating a negative signal that could change within days. Transports also only marginally in negative column. A/D indicators stabilizing but still marginally negative. There is not much hope for those who expect the market to break sharply from here. Impeachment in the House is fully discounted even if conviction in the Senate is not. Market could go either way from here, but probably not strongly. Will be interesting to see how market reacts to the Iraq news. Don't think it will have much affect. The Amazon story today is further indication that we are in a stock market mania. I am convinced of this, but the problem with manias is that you don't know how long they will last. It will break someday and I believe that my signals will put me on the right side of the market when it does. Cheers!!