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

To: StockOperator who wrote (9544)	3/31/1999 9:33:00 AM
From: StockOperator	Respond to of 99985

With today being the last day of the month, many of the issues I follow need a big day to establish a firm footing. Of course I am referring to many of the market leaders that have been under pressure lately. Stocks like DELL and INTC are either negative for the month or at best slightly positive. So I would expect a up day. Despite the advance on the trannies yesterday we still have not broken out of a congestion area that I'm seeing on the charts. The one obvious concern after yesterday's close was the hit the utilities took. Interest rates appear to be rising again. And with the Fed meeting to decide on the future of those rates. Plus the usual pre-meeting jitters, things could get a little dicey. So I am still seeing divergences out there. Even within the same group of stocks. There have been many good posts lately discussing the dangers in the market. Which I totally agree with, simply because breakouts are usually the most dangerous time to be trading. But yet the patterns that have developed on the charts during this correction appear bullish to me. So once again only time will tell. Good trading. SO