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: bobby beara who wrote (10735)	4/12/1999 7:58:00 PM
From: Lee Lichterman III	Respond to of 99985

To all, my MDA charts are updated as of now. bb - While this may be a blowoff top and we are approaching some important resistance lines again, I have to say, I am in the bullish camp also (uh oh). Note my sector index charts. While all tech indexes dropped such asthe TXX, SOXX, XCI etc., the poor beaten down and previously unloved indexes broke through some important resistance lines or else have bullish breakouts from consolidation. Oil broke through and should run abnother 10 or so on the XOI, Natural gas broke free as I think I mentioned it might this weekend and even the PNX phone index I asked Don about made a bullish long white candle through the first resistance point. HCX health care, Pharmaceuticals DRG index are both looking good as is the Paper index FPP, BIX and BKX Bank indexes and even the gold index XAU. The real convincing one that made me turn, at least until I put the glue away, is the chemical index which hasn't gone anywhere for a long time CEX that moved up convincingly. We spoke this weekend about if the money would leave and stay on the sidelines or move into a sector rotation to the previously ignored sectors. The decision at least for one day has been it will go to these sectors. Of course one day does not a trend make. I think this market won't drop until earnings are over or a bigger shock comes from numerous sectors or a big gun like MSFT or GE. LU was downgraded, we had a .8 to 1 TRIN all day and a negative TICK reaching 600 or so with no appreciable drop in the indexes. I don't see where any of the previously narrow stocks carried it but instead it seemed broad based across the market. Anyone seen my velcro under wear, I need to get dressed now. Good Luck, Lee (less befuddled than before)