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

To: Saulamanca who wrote (7529)	3/4/1999 7:17:00 PM
From: stockycd	Respond to of 99985

All, Well, looks like this sell-off will not be the BK. SPX and OEX showing strength on 60 and 30 minute charts. If the first 30 mins tomorrow stays above 621 in the OEX, a more sustainable rally intraday or otherwise is very probable. I would even so far as to say we are in a "trend reversal" in the OEX/SPX. Shorts, be very cautious. DJIA is showing clear strength but is once again overbought. The NASDAQ 60 minute chart is in a clear downtrend. The 15 and 30 minute charts are clearly more bullish. If we don't rally above ~2311 immediately tomorrow, we should head back down to ~2275. The SOX chart is the one that looks the most negative. The 30 minute chart shows a bear pennant. I don't expect much rise out of it. I just do not trust this market. Most indexes at the close today suggest further rally tomorrow, at least intraday. The economic news tomorrow may help push it up. Be careful! My opinion only... Chris

To: Saulamanca who wrote (7529)	3/4/1999 8:23:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 99985

Jim, I have found the once these patterns turn the other direction, it is time to turn your cap around and join the other team -g- Other sectors are taking up the lead and will keep up the market. BUT there are still some rough spots and nobody knows which way this thing will break. sentiment really never got that bearish 30% bears 50% bulls in this II survey. On June 15th, 1998 I seem to remember something near the reverse of that and the lowest reading on the SI bull bear survey on the chart, which set a foundation for a rally into the july top. tomorrow will tell, a positive reaction to the eco numbers should seal a rally with the McOscillator going back above zero again, 2nd move above buy spike. bwdik, bb