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: John Pitera who wrote (2227)	12/17/1998 11:48:00 PM
From: bobby beara	Read Replies (3) \| Respond to of 99985

John, U G L Y is right on. This is the peak in bullish disregard and complacency. Bidding up the market while we are bombing Iraq and a vote of impeachment is a lock in the House. three lower peaks in the a/d, three higher peaks in the OEX. A/D line bounced off 200 dma. I believe we made a short term bottom this week and we are in the final stages of a top. In July I was barraged with cold calls from brokers. Now I am barraged by brokerage TV ads. Record bullish sentiment. The McCllelan Oscillator normally makes a complex bottom after an initiation leg up/correction and before the next rally resumes. If we turn back up here and have a significant rally to new highs, this rally will be on much weaker legs than the 7/20 top. bb bb

To: John Pitera who wrote (2227)	12/18/1998 12:29:00 AM
From: Moominoid	Read Replies (1) \| Respond to of 99985

I've been very confused by the differences between the three main indices. On daily charts, DJIA looks like an H&S with a retest of the neckline. SPX looks like range trading in a slightly down-sloping trend channel - perhaps a bull-flag. COMPX - well? If it was an H&S type thing then we are now just at the peak of the RH shoulder. Or maybe it is range-trading with a small upward trend. It isn't a bullflag at least :). An H&S with retest is possible IMO on $INX but it is an extremely steeply upsloping neckline. Looking at weekly candlestick charts each index looks most like a different historical period. Dow like summer 97, Nasdaq like April-May 98, SPX like Winter / early Spring 97. David