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

To: donald sew who wrote (10619)	4/12/1999 8:34:00 AM
From: HairBall	Respond to of 99985

donald sew: Let's watch to see if the support line at 54.39 holds or not.... Regards, LG

To: donald sew who wrote (10619)	4/12/1999 9:14:00 AM
From: pater tenebrarum	Respond to of 99985

Donald, re: interest rates. it may be an ominous signal a la july august,but i don't believe that the market acts in such a repetitive fashion. so this may very well put a floor under the decline this time. also note that the reaction to cpq in european & asian markets has been only mildly negative so far. what i find most ominous is the fact that the cpq 'event' coincides so neatly with the much-talked-about cycle top. also jerry favors' good record with regards to picking tops is a concern. much hinges in my opinion on whether the market can recover quickly from the boxmaker negatives or not. still, a sharp sell-off today may skew the sentiment picture even more in favor of the bulls, especially since there are only few short term bulls extant right now. regards, hb

To: donald sew who wrote (10619)	4/12/1999 9:22:00 AM
From: Roebear	Respond to of 99985

donald & all, Did a lot charting this weekend, mostly of individual companies, but when I plugged in the spx and oex I saw something that stood out. I usually don't follow BB's much, but on a weekly three year chart of the OEX the only other time there was a significant upside penetration of the Bollinger Bands (like last week) was in July (20-24th I think) of 98. This was also evident on SPX but that had more penetrations, nevertheless last weeks and the July one were the most notable and (squint, squint) of the others one was flat, one was up and the others (about 7 total, if I am squinting right) down. Is this significant to anyone, seeing as the July penetration mentioned was the start of a good sized correction? Roebear