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

To: HairBall who wrote (6135)	2/11/1999 6:44:00 PM
From: Stephen	Read Replies (1) \| Respond to of 99985

Basics still look sick ... quote.yahoo.com Regards Stephen

To: HairBall who wrote (6135)	2/11/1999 7:00:00 PM
From: Monty Lenard	Read Replies (2) \| Respond to of 99985

LG the charts you sent are updated. eom

To: HairBall who wrote (6135)	2/11/1999 7:07:00 PM
From: bobby beara	Read Replies (2) \| Respond to of 99985

LG, >>>will quickly change their tune based on one day's Market performance.<<<< I believe the evidence is more than just one day. Two days ago, I posted the negative breadth #'s and possibility of a capitulation bottom and posted that we had a five wave decline and we were probably at or close to a bottom. Donald did the same, giving Class 1 buys. I believe at the time both Donald and I didn't have any data on how signficant the bottom was and both thought this was a short-term bottom in a continuing downtrend. Today's action brings that into question. With the level of bearish sentiment (number of sell signals from analysts) and the reversal today, their is a chance of another leg up even in the face of deteriorating internals. We could have a commodity style blow-off ahead of us, nobody knows. We were at 37 on 9 day rsi (spx), a couple of days ago and the Oscillator has been below 0 for a month, we passed thru 50 rsi today and of course I added a short this morning -no g- These are very oversold conditions that warrant caution from people on the bear side. bb