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

To: Lee Lichterman III who wrote (8967)	3/24/1999 3:20:00 AM
From: Moominoid	Respond to of 99985

On SPX we stopped right on the 34 dsma which is roughly where we were on 23 July 98. The market then tried to rally for a few days and failed. The 34dma provided support a couple of times on the way up from 8 Oct. We're also right on the trendline from the 8Oct lows to the recent ones at the beginning of March. So if this fails here I would start getting worried. My own indicators haven't given a sell signal. Normally they give lots of false positives. They're more likely to take you out of the market unnecessarily than keep you in it when a crash is coming. ie they pick out Oct87, Oct97, Jul-Aug98 and lots of ones that never happened <g>. But maybe this time is different. David