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

To: Jurgen who wrote (8920)	3/23/1999 10:12:00 PM
From: Sun Tzu	Read Replies (2) \| Respond to of 99985

Didn't Dell say after the close today that business is great?

To: Jurgen who wrote (8920)	3/23/1999 10:35:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 99985

MUEI news (who cares, they never make it) The soldiers are dying with arrows in their backs the generals have left there arrow proof vest @home because options jerry told em it was ok to come out in the cold! this isn't the first OJ that will be burned in effigy -g- bb

To: Jurgen who wrote (8920)	3/23/1999 11:40:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Jurgen - concur. To all - I am not convinced this drop is over by any means however. Don is the master and he sees a buy in at tomorrow's lows but I see only that we stopped today near the lows on the indexes and only at my middle tines on my SPX, NASDAQ and DOW charts while the indicators aren't even down to mid range yet ( I am refering to my mid term set) My short terms do hint at a bounce but .... Would this bounce be for the J6P indicator and would it be a risky trade subject to weekend news and a Monday selloff? Inquiring minds want to know. A lot can happen in the world over this weekend with OPEC, economy etc. The AUX Auto index has fulfilled the drop to the first support line; The BTK has dropped to the lower tine of the upward fork fulfilling my initial target to 186 and could further drop now to the secondary 176 1/2 area on support from the previous lows; The cwx software index is almost to the first support line from the December high and the previous most recent lows, further failure would imply another 50 point drop to next level of support; Don's paper index, FPP finally broke down and I see a drop to around 291 as the most likely bounce area should the selloff continue; GAX or gaming index is still doing the rounding top pattern showing more strength than the rest of the indexes drop would be to around 195 but strength so far makes it not appear to be a good play yet; XTC or telecom index dropped to my lower tine on the upward fork and next support appears to be around 957 if downward fork middle tine support of 975 fails; BIX or banks 660 then 630 supports. HCX on support line right now from Jan 26 and March 3 lows, next support around 775 from longer term fork; CEX chemical index broke back below resistance line it had finally broken out of and appears headed back to 411 area; IUX Insurance index broke through important 641 support level and should drop to 600 then 560 if that fails to hold; RLX my favorite play fell and should get to 865 target level tomorrow; TRX, S&P Transport is sitting on important trend line which if it fails would bode bad for market, I can't get a good read on support level, 670?; SOXX NEEDS to hold 350 or tech is hurting!!! HFX Supercap should at least pause at 615 middle tine support then ...; TXX tech index still in channel and expect drop to continue to 430; TPX, US Top 100, same, still in channel should pause at 1245 I got bad data on the IIX, XNG, XBD and DRG so I am blind on those unless there was some sort of split done. I show prices down around 1/3 of normal. I am so busy I can't trade them so may as well share my views this time. Of course I am often wrong especially since I thought MU was reporting today and instead I guess it is tomorrow. Duh !!! Just my WAG FWIW, Lee