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

To: donald sew who wrote (8735)	3/22/1999 9:43:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 99985

Donald, every day the market tosses ripples at us, I just roll with the waves and place my stops -g- My direction hasn't really changed that much since 1/8. I knew we were topping out, and why not play the distribution ripples along the way. When we didn't break support on 3/3, I knew we had a good bullish leg ahead, but then again, I can't attempt forecasting the top until the market has revealed enough information. Momentum precedes price and we have three momentum legs up. We had a breadth and mo thrust in the thanksgiving top. Then a weaker thrust in 1/8 on flattening internals and mo. This last thrust up is pitifull thats three impulse and two corrective and five waves top. I wish I could get a clearer read on the spx, but several bellweathers are showing clear five wave tops are in the making here. The internets made a fantastic momentum thrust into 1/12, this one here is on weakening nutz internals and momentum. As I posted several trading sessions ago, i would stay bullish as long as the McCllelan Oscillator stayed in positive. It went negative today making a lower high in the summation index. bb