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

To: HairBall who wrote (4770)	1/27/1999 9:20:00 PM
From: NickSE	Read Replies (2) \| Respond to of 99985

LG, Here's a quick P&F rundown for all those newbies out there. :o) Reference 204.232.40.6 equis.com wsdinc.com chartcraft.com The NYSEBP (Main P&F indicator). 204.232.40.6 204.232.40.6 Current NYSEBP reading Message 7516457 Message 7520691 P&F charts dorseywright.com chartcraft.com ez-pnf.com Anyone care to add anything? Regards, Nick

To: HairBall who wrote (4770)	1/27/1999 11:22:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 99985

PnF Market analysis: Today the NYSE BP reversed into Bear Alert status which comes after a lower top and closes in on a double bottom sell signal (bear confirmed). We are only 1.5% away from a sell signal on our main indicator. The optional bullish percent reversed last week and our short term indicators were already in negative territory. Can't say for sure what will happen but here is some info. The lower top on the NYSE BP tells us that the current rally we experience showed less stocks on buy signals (rallying to their previous highs) than before. This tells us that overall demand is drying up. This is not something we like to see. The Over the Counter Bullish percent is still in X's but declining. While it is still in X's you may see some larger cap issues still rallying during this time. The NYSE BP reversing does not mean that the market will crash tomorrow. Or, it might. The point is to be very cautious with your positions, watch support levels. Do not chase stocks at this time. Most everything is now stacked against your favor. As far as the Dow is concerned. The chart shows many lower tops, on a sell signal and the momentum has reversed negative. A move to 9050 would be a triple bottom sell signal which is like sticking a pin in the PnF Voodoo doll. Next support after that is 8700. The Nasdaq (where the OTC which is still in X's is...) is doing quite fine but reaching resistance at 2470. Support is way down at 2310. My concluded .02 is that you be very careful and not be fooled by what appears to be rallies. This may turn around and not give a sell signal but if it does, it shall be bumpy. Take care, Jan I am