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

To: Arik T.G. who wrote (7093)	2/26/1999 5:16:00 PM
From: donald sew	Read Replies (3) \| Respond to of 99985

Arik, It was really interesting how the DOW sold off about 50 points in the last 5 minutes of the day. Wonder if the futures also sold off? The INTEREST RATE action was interesting today. The economic news favored further increase in the rates, but the rates pulled back significantly. Was today just a technical bounce in the bonds, since they have sold off dramatically. If that is the case we may see a another upswing in the rates again as soon as Monday to retest the recent highs. If that was to happen that should push the market down again. My Short-term technicals for the overall market is in the lower mid-range approaching oversold, but that only means that there is still more downside, about 2 more days worth) if the market continues straight down. My analysis is really not designed to determine size of the move, but is designed to determine turning points in terms of time, so I really cant argue on a technical basis strong projections in either direction. On a more subjective viewpoint I just see a continued trading range that could be shifting or enlarging. Regardless, if the market drops hard it will just make my BUY signal clearer. Im still in my PUTs. Its interesting that you feel if the SPX trades over 1253 we will head up strong. Is that based on a wave structure. seeya