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

To: Gersh Avery who wrote (7719)	3/7/1999 11:37:00 PM
From: bobby beara	Read Replies (3) \| Respond to of 99985

Here's bobby MDA for tday -g- shahar.nets.com:2000/Oscillator.gif The market is in a special area of coming out of a 19.5 week cycle low, where the market came within a wisker of falling into the abyss. Lows like this produce a lot of bearish sentiment that we've seen in the last few weeks, especially on the techs and rates. The Dow Industrials are sitting on a trendline that touches 4/98 - 7/98 - 1/98 and last Friday. The Dow Jones Transports are sitting on a trendline from 4/98 - 7/98 - 1/98 and Friday. The OEX/spx are a wisker away from making new highs. The greater market as indicated by the McCllellan Oscillator/ a/d line and RSI is oversold. A/d line bounced of a support area last week. The McCllelan Oscillator has a symetrical triangle formation with lower highs and higher lows. Friday's action broke us out of the triangle. Seasonally, we have money coming into IRA accounts to beat the tax deadline. With a little help from the foreign markets (the nikkei has broken big out of it's own triangle) I DU BELIEVE WE HAVE A RECIPE FOR A BLOW-OFF. Not a recommendation to buy or sell and I hope decision point doesn't mind me using their chart. bb