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

To: HairBall who wrote (8237)	3/15/1999 9:38:00 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

LG's-MDA Update RUT (Russell 2000) The RUT found resistance at the upper trend line of its bearish rectangle or sideways trading channel. The 200-day SMA is reinforcing the upper trend line. Look for support at the lower tine of the short-term pitchfork, the center line of the long term trading envelope and the declining longer-term support/resistance line. The Oscillators are still in a med/lng-term sell signal with both the sht/med and sht-term signals both on buys. The Fast Stochastic is in the upper range. COMPX (NASDAQ Composite) The COMPX managed to close slightly above the upper ascending trend line of its bearish flag. Finding resistance at the upper band of its long-term trading envelope. Finding support in the area of its 50-day SMA and the lower tine of its sht-term fork. The Oscillators are still in a med/lng-term sell signal with both the sht/med and sht-term signals on buys. The Fast Stochastic moved back up into the overbought range. UTIL (Dow Jones 15 Utilites) The UTIL pulled back today from both the center tine of its sht-term fork and the upper band of its long-term trading envelope. Finding support slightly above its 50-day SMA. The Oscillators are still in a med/lng-term sell signal with confirmation with both the sht/med and sht-term signals are still on buys. The Fast Stochastic is rolling over in the overbought range, which infers lower prices over the next day or so. TRAN (Dow Jones 20 Transports) The TRAN having found support at the centerline of its long-term trading envelope thrust up today above the long-term descending resistance line closing just below the longer-term descending resistance line. This longer-term resistance line is should be strong resistance and if broken not negated will be an important breach. The Oscillator sht/med-term signal remains in a buy with the sht-term signal giving a buy with today's major move. Remember these oscillators are trend following and the shortest-term osc is most app to be whipsawed. The Fast Stochastic is rocketed back up into the oversold range today. DJI (Dow Jones 30 Industrials) The DJI now trading in clear air above its rising resistance line found resistance at the upper tine of its rising short-term fork. The DJI continues to trade along the upper band of its long-term trading envelope. This implies a pullback as soon as tomorrow. The Oscillators med/lng signal is still in a sell, but both the sht/med and sht-term signals are still in buys. The Fast Stochastic remains in the overbought area and supports a read for a pullback soon. My Segmented Day Oscillator (not ready for prime time indicators) was whipped sawed a little today reversing the sell signal given with Friday's close, but by the end of the day it was back on a sell. The Segmented Day Stochastic is still in the extreme overbought range. CONCLUSION: I expect some time tomorrow the Market as measure by the DJI will begin a multi day pullback. So if the DJI is going to hit 10K this week its needs to get the lead out tomorrow...<g> So, Donald does your "guitar" agree or disagree? <gg> To view the Charts analyzed above (except the segmented day) can be found at Monty's MDA Chart Site: cp-tel.net Monty has added a counter, so we can see if posting these charts on a daily basis is worth the effort…<g> (All Disclaimers Apply) BWDIK Regards, LG