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

To: Hawkmoon who wrote (7646)	3/7/1999 10:25:00 AM
From: donald sew	Read Replies (4) \| Respond to of 99985

INDEX UPDATE ============================= Since the overall sentiment is still bullish, we should still keep an eye on negatives and be cautious. On the interest side the media has not and I have not yet heard on SI mentioning that on a intraday basis interest rates rebounded about 40% on FRIDAY. It may mean nothing, but keep in mind that the most of the indexes closed right at their highs while the interest rates closed significantly off their lows, implying that they may be bouncing up now. Applying TA to the interest rates, we should keep in mind that even with the retreat in rates the uptrend is still intact. The current uptrend line is now around 5.50%, so rates are still significantly above this uptrend line. Depending on if market internals continue to improve or not weaken the market could head higher for the mid-term(30 days), but I still believe such upward movement is still part of the bubble unless the upswings can broaden out significantly and consistently with dreamatically improved market internals. seeya