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

To: HairBall who wrote (5411)	2/4/1999 9:21:00 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 99985

Well something should give today and while my J6P indicator says we should go up by Friday's close, the charts show either resistance has to be taken out or the support line must fail on my DOW chart. Neither of these is a major level and can be broken fairly easy but I will be interested in seeing how strongly or weakly it is done. Of course the day could just be flat but that wouldn't say much about market strength either. Lee

To: HairBall who wrote (5411)	2/4/1999 9:27:00 AM
From: donald sew	Respond to of 99985

LG, I agree that most on this thread are not calling the extreme, but was more of a general comment. Heres a perfect example of emotional trading. With yesterdays strong upswing strong upward projection came out. The futures were up 6 with FV around 1.5 which impied a substantial pop at the open. Now the futures are down 1.5. We all know that the futures can change at any time since it is lightly traded, relatively speaking. And if we drop today some extreme bears will come out. My position is that Im cautiously negative. Just heard that JP MORGAN is now cutting equity allocation. Seeya