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

To: donald sew who wrote (8471)	3/19/1999 7:10:00 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 99985

Donald a while back I posted that I anticipate the SPX to move to the 1316 level as first resistance and possible to 1323-26 level. Based on the media advertising the DOW 10,000 and the weakness in MMM, IBM and HWP yesterday, I do not see a major problem to touch those levels today. The main issue is will the market reverse today, or will it wait until after option expiration. IMHO SPX 1300 was more meaningfull than DOW 10,000. The bad news are that it was achived mostly with IP, AA, XON and CHV all indicators of an end of a bull move. BWDIK Haim

To: donald sew who wrote (8471)	3/19/1999 9:05:00 AM
From: HairBall	Respond to of 99985

donald: You and I are in agreement. Back in Jan of this year, when I was saying the formation on the DJI was a bullish falling wedge. Some where saying it was a descending triangle and that the direction was down. I can say (as you know), I expected 10K to be at least a short-term top plus or minus 200/300 points. I have always suspected that the “big boys” will pop the Market enough to the upside to capitulate most of the bears, before settling into a decline. Thus, leaving as many at the train station as possible. There is nothing wrong with catching these oscillations, but going from bull to bear to bull to bear as some have is a little too indecisive for me. Of course it is not easy identifying the over all trend, the "big boys" want it that way. If one flip-flops, I guess one could say they made the call...<g> I remember during the July 98 correction some where calling for a bottom with each of the bearish flags. Ultimately the pullback found its own bottom. It would seem the bearish formation on the RUT is in danger of a break of the upper trend line. And, the upper trend line of the bearish formation on the COMPX has been broken for three days with Globex signaling a move up and away. However, for the COMPX bearish formation to complete, it would have to set a new all time high. I don't think that will happen at this time. I always must caution that Chart formations are not 100%, even the ones with the best percentage plays. I have been playing these swings with risk capital and have been riding a few “internuts” for the adrenaline rush...Yeeeeee Haaaaa... Note: I do not like it when formations are negated and this does give me pause...I could be wrong...so...(All Disclaimers Apply) <g> BWDIK as always... Regards, LG