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

To: donald sew who wrote (2779)	12/24/1998 7:26:00 AM
From: jjs_ynot	Respond to of 99985

Don, Merry Christmas, Happy Holidays, and May God Bless you for all the work that you do for others. Dave

To: donald sew who wrote (2779)	12/24/1998 1:04:00 PM
From: EepOpp	Respond to of 99985

Merry Christmas, Donald! and a hearty 'THANKS!' for continuing to do all the legwork. with the market closed tomorrow, you can finally take a day off... good trading. Will : )

To: donald sew who wrote (2779)	12/24/1998 1:22:00 PM
From: Challo Jeregy	Respond to of 99985

Wishing everyone here a very Merry Christmas and a well-deserved time off!!! Thank you LG for starting this great thread and thanks to you, Donald, David, and everyone else who contributes such informative technical analysis. Every bit of info provided to help follow this wacky world of trading is like reading a little bit of the world. This is a great place to work <G>! Happy holidays. Challo

To: donald sew who wrote (2779)	12/24/1998 2:00:00 PM
From: bobby beara	Read Replies (2) \| Respond to of 99985

Case for a market top: Parabolic move in internet stocks (each leg from the September low getting more vertical) Leading market sector topping out. I believe we may have one more final leg up Monday morning. Put/call ratios extreme bearish territory for over a month now, bullish sentiment record territory for over a month now. The question marke in this indicator is that bears have been hovering around the 29-32% area, showing a somewhat healthy skepticism, while there was wholesale capitulation in July with 22% bears (I guess I couldn't convince Haim to buy some NUTZ -g-) VIX made a five leg upmove into 11/23 DOW top, made an ABC correction and now has completed a five leg upmove as of yesterday and a reversal today with a lower low than 11/23. This indicator is also not as overbought as the July top, but we may have to consider that it took 5 months to reach overbought territory last March, while it only took 2.5 months this time. The NYA started this rally at the same point as 6/15 low, however the Oscillator moved 320 points in the period to the top, while the Oscillator has moved only about 180 points so far on this rally, much weaker internals. Also no complex bottom basing structure as a foundation. SPX is touching it's upper 50 day band, Nasdaq is within spitting distance. T-bonds sitting on bottom 50 day band and now have inverse of the stock market, very oversold RSI 24, more oversold than 11/6 bottom, panic selling of bonds, which has spilled into panic buying of equities. Perfect spot for all markets to reverse. N225 in danger of retesting sept lows. Russell 2000 in a narrowing trading range and is sitting against formidable resistance, while the market as a whole is in overbought territory at a 9 day RSI of 72. Happy Holidays, beara