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

To: bobby beara who wrote (10591)	4/11/1999 10:29:00 PM
From: donald sew	Read Replies (2) \| Respond to of 99985

Bobby, >>> , I was looking at the XCI chart which is the instigator of this foobar and it has a very similar pattern to last july thru august period, made a high on july, then had a correction pattern into August that looked like and inverted H&S pattern, gave the bulls some hope, but made a lower high and reversed down into the 8/31 lows.<<< They do appear similar. It just cant be good for the market when more and more indexes are weakening. Thats not to say the DOW/momentum stocks cant go higher. seeya

To: bobby beara who wrote (10591)	4/12/1999 9:14:00 AM
From: John Pitera	Read Replies (1) \| Respond to of 99985

BB, Check out this note on the "Hindenderg" Indicator the technical setup is said to have signaled on Thursday. "...You take the new highs and new lows for the day. Choose the lesser of the two. Divide this lesser by the total number of issues traded that day and multiply by 100. If the resultant number is above 2.40, you have a Hindenberg syndrome. Historically, any time you have a Hindenberg the market usually crashes within a week. Often there will be two or three days in a row each producing a Hindenberg. Today [April 8, 1999] there were 94 highs and 122 lows. The 94 is the lesser number. Divide 94 by the issues traded (3547) and multiply by 100, and you get 2.65. Of course, 2.65 is well above the critical 2.40 number. That's it -- we got a Hindenberg. How accurate is the Hindenberg? It's got a very good history, but like anything else in this business, it's not infallible. By the way, the Hindenberg was discovered by a blind math genius, Jim Nieska, who resides in Florida."