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

To: StockOperator who wrote (6687)2/19/1999 12:25:00 PM
From: Lee Lichterman III  Respond to of 99985
 
Agree that this could break any way and in hind sight we could find a reason in the charts. I want to go short the OEX here but the patterns are looking bullish so far. My lines said to buy puts at 622.8 but that last push a few minutes ago looked pretty good and is now forming a bull flag on both the 12 minute OEX and SPX. If this holds, that resistance line just may become support here.

Still my gut says they will bring it back down this afternoon to close closer to 619. The only thing going against me is the J6P indicator and that has been pretty strong lately. <ng>

Good Luck,

Lee



To: StockOperator who wrote (6687)2/19/1999 7:14:00 PM
From: StockOperator  Read Replies (3) | Respond to of 99985
 
Get ready for another run to the upside. The charts are pointing to a breakout of the last seven week's worth of consolidation. The scope and breadth of that breakout will be interesting to see.

SO


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