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

To: StockOperator who wrote (5391)	2/4/1999 8:46:00 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

SO: Nice commentary as always. I had been expecting a further move up in the Dow Ind and the NAZ. However, the NAZ has been in an almost straight up rally (linear charts). Take a look at my chart: cp-tel.net I would call your attention to the Med/Lng Oscillator on the IND (Dow Industrials Theoretical). It is nearing a cycle point where it should begin to turn down. When it does, that always means at least sideways action for medium term and most often a pullback. The COMPX (NASDAQ Composite) Med/Lng Oscillator is in all time high territory. And, it is due a roll over!! By the way, since you look at the weekly charts, the current COMPX price action could be compared to the sharp rally in 91 off the 90 pullback lows. That could be used to infer a move at the beginning of a long bull rally. However, my Oscillators stayed in a normal range during that rise. My Oscillator's amplitudes began to increase as of late 1995, but have been swinging to new all time extremes since July 98. My Med/Lng Osc is now off the charts with this rally...that gives me reason to be cautious. This Oscillator "to date" has never been wrong. (1986-To Present) This increased violability could be associated with the turning of a major trend. Just something to keep an eye on... BWDIK Regards, LG