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

To: KM who wrote (4925)	1/29/1999 7:42:00 PM
From: bobby beara	Read Replies (2) \| Respond to of 99985

Truff, I don't agree with Cosmo -g- but then again i gots muny on it -g- Some yadda yadda yadda to chew on. CSCO broke to new highs out of an ascending triangle that points to 126. Earnings Tuesday! and given big GDP #'s Cisco must have got their fair share -g-. OEX broke to new highs and closed near the high negating the symetrical triangle. Failed H&S on DRG. Broke downtrendline on the DOW. All points to higher prices short term. How about a vertical spike in the Nasdaq composite and bears below 25% in the next week or two. For ellioticians (i had been watching this to see if it would develop), the CBOE 10dma put/call chart bottomed on 9/1, had a rally into 9/29, corrected into 10/8 (wave 1), then had a five wave advance into 1/8 (wave 3), and has corrected since then and now has turned back up (wave 5) Maybe we can get a new peak in this indicator to marke the top. bb