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

To: Compadre who wrote (3429)	1/7/1999 3:05:00 PM
From: Debra Orlow	Respond to of 99985

Jaime, the bearish MACD divergences were negated on the daily charts of both the Nasdaq comp and the NDX. The divergences on the DJ30 and NYSE are still valid, altho they are becoming a bit extended (drawn out in time) which tends to lessen their reliability. No divergences appear in any of the 4 with respect to their 60-minute charts. The turning point, if the bear as to have shown up in full force, should have occurred on the last few days of Dec. Instead, we went higher. Could've been the holidays, could've been one thing, could've been alot of things. No excuses here. Covered my longer-term shorts, now just playing the 5-minute charts (both long & short) until the next daily divergences come full force. It just didn't happen this time. Don't get me wrong, I don't think that this is a new bull phase, not without a LOT of work first. While that work is being done, I just play the 5-minutes. Do all market downturns show MACD bearish divergences? Certainly not. One thing that I am seeing is that there are alot of stoch divergences showing up, which might portend a short-term downturn. But that is all for now. BWDIK, Debra