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

To: donald sew who wrote (10925)	4/14/1999 8:28:00 AM
From: Lee Lichterman III	Respond to of 99985

WoW, I was busy last night and didn't have time to read the string or anything else except update my charts and run out. 141 posts!!! My homework still isn't done but ... I have sell signals on most of the indexes and I may have a few more that don't show since I found a problem yesterday that I haven't had time to fix all the way. When I created a new folder to update the MDA site, my formulas use a built in averaging system that when I rebuilt them, had some of the averages set to a slower value. I am slowly going through and correcting them. Thus you will note that a sell came up on the NASDAQ 2 days ago that wasn't there before tonight. I have it fixed on the NASDAQ , DOW, SPX, OEX now and it seems OK on most of the sector indexes already. DOW gave a sell signal yesterday but both are only class 2. The RUT and some of the other sector indexes have started flagging sell signals also so I think your sell signal is going to be a good one. The BTK bounced down off the upper time of the mid term fork, the DRG and HCX formed hanging man formations and reversed slightly in the upper areas off the fork, the SOXX mid tine failed to hold so it should continue the drop to the next support around 360 from the current 379. The XCI has the same problem with a short term easily broken fork about to fail foretelling a drop to support around 850 but AAPL reports tonight and could fuel a reversal back up if the report gives some hope for the PC sector. The bearish part of this is the Tranny's, Utilities and the Airlines. The forks are about to fail on these and in the case of the airlines, would prompt a drop of another 10 points on the XAL index from 174 to 165 area. The US Dolaar is stuck in the narrowing wedge and will have to break one way or the other relatively soon. The security broker index formaed a large white candle but has now triggered a class one sell so I would not be surprised if it formed a tweezer top today but we will have to wait and see. Still I feel the run in the brokers should end soon at least short term for at minimum some consolidation. This gives credence to the post about sell the news? The Latin and Mexico indexes are showing over bought now so now we just need some news to explain this normal topping. As for extent of all these pullbacks other than I spelled out here, I expect them to pullback to the next tine in the forks or what ever support lines are on my charts. Good Luck, Lee