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

To: HairBall who wrote (8769)	3/23/1999 9:23:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Good point. As I said before, keep an eye also on the chart formations. I was actually hoping for a decent pullback to let a little over bought air out of the balloon but I am starting to see bull flags or at least just consolidation on the DRG drug index, HCX healthcare index, CEX Chemical index etc. A few others are showing more bearish signs such as gaming with rounded tops but there are few waterfalls right now. Most sector indexes have held on despite over bought status which tells me the market is putting up a fight here. This bears watching so you don't get caught too short. As I said, I think MU earnings will have a large impact on what happens next if it is true that they report after the close today. PS - I have over bought readings on the Latin America Index, Mexico index and had one on the Japan index but that was before last nights action and I won't get new quotes until tonight. Good Luck, Lee