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: donald sew who wrote (11083)	4/15/1999 8:55:00 AM
From: HairBall	Respond to of 99985

donald sew: I was unable to take time off, due to my data failure problem. I am pleased about only one thing regarding the failure. It forced me to take a look at the Dow theoretical numbers again. Those numbers would have steered me to the levels we are at now, or at least in the area. Projecting a rise of approximately 800 points off the final low of the falling wedge (a bullish formation). Water under the bridge, I am back to the theoretical data which I had used since I started doing analysis in the mid eighties. I only switched on January to actual charts. Both have merit, but I prefer the theoretical data. I still may be wrong about a top this week. If so, I will take my lumps and not hide from the "wrong" call. I did call this rise into mid April though. However, I was very cautious in the tenor of my post, as I believed the possibility of a top sooner, given the Dow 10K event. No one is perfect or even close... (My posts are my opinions only and I reserve the right to be wrong on occasion. Do not base any investment decision solely on anyone's views or analysis. Do your own research and take responsibility for your own investment decisions.) Regards, LG

To: donald sew who wrote (11083)	4/15/1999 9:10:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Well futures are up so this may be an exercise in futility but ... I expected the SPX to have a bounce point of at least temporary support around 1320 from a line connecting the March 18 highs with 29-30 March support. This same line would have given support at around 660 OEX. There was mild support at DOW 10200 from the action on the 8th then a little stronger from the 9th-10th. The line that I expected to support the SPX and OEX equated to the DOW 10K mark. I obviously have multiple charts of the indexes and can't post them all due to space but the line that held this last rally was the one I spoke of in our chat session Monday night. It isn't a fork but a boring old channel drawn from the lows of Oct 28, Dec 15th, Feb 11th and Mar 3rd for the slope. A parallel line connecting the highs of Nov 24 and just missing the Jan 8th peak was slightly penetrated yesterday then contained the attempt. I am watching closely to see if it holds today. If it repels the DOW and we have a down cycle, it should drop to around 9900 due to the rising support line that is now at 9630 but will take time to drop to the line. I am off to work, Good Luck, Lee