Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Gersh Avery who wrote (9543)	3/31/1999 9:15:00 AM
From: donald sew	Read Replies (3) \| Respond to of 99985

INDEX UPDATE ================================================ CNBC is reporting that there will be very strong open to the upside since the fair value is a negative-4, and the futures over 5. The price of oil is on the rise and per the charts it has produced a significant higher high. For the short-term OIL is strongly in the overbought region and should see some sort of pullback, but the overall trend is to the upside. oilworld.com INTEREST RATEs(TYX.X) was overbought recently and yesterday it pulled back. Per my short-term technicals, the TYX.X are now back in the mid-range, so it can go either way now. I have to note that the per the charts, the TYX has produced a LOWER HIGH which is implying that the peak we saw in early MARCH around 5.7% may be a short-term high. Of course it requires alot more confirmation to determine if 5.70% is a major top. Yesterday was DAY 1 of the CLASS SELL SIGNAL, and as previously mentioned DAY 2 is commonly not a big down down but could be flat to slightly up. DAY 3(tomorrow) could be a strong down day, Im not saying huge just strong. As long as the Mondays highs at 10030 is not broken to the upside, the dip that started yesterday is still in effect. Again, we could just be zig-zagging, now that 10,000 was reached on a closing basis. Subjectively, many attribute this rally to the quarter end and month end window dressing, and of course we had the 10,000 target. Keep in mind that we are at the end of the month today, so some more window dressing is likely. The market internals deterioated yesterday which is normal since the market was down, but it was interesting to note how quick the NEW HIGHS/LOWs deteriorated. It is common for the NEW HIGHs/LOWs to take a few days to change direction, but this time it reversed immediately. Since the market could be up today, and possibly be up nicely at the open, we should watch how much/fast the NEW HIGHs/LOWs improve. The 9-month top(2/3rd time point) arrives on April 8, so basicly we are there, give-or-take a week. Its interesting to note how many are still bullish to very-bullish. Many express caution but few are doing anything about it - just checked with my broker friends last night, and yes they are still rubbing it in my face of how wrong I am for being bearish, and they most are strongly against the possibility of some sort of a correction in APRIL. From the majority of analysts I hear on CNBC, and the average investor/brokers I deal with(outside of SI), it strongly appears that the bearish view is strongly the minority view. seeya