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

To: KaiserSosze who wrote (12371)	4/29/1999 9:55:00 AM
From: donald sew	Read Replies (1) \| Respond to of 99985

Kaiser, >>>>> RE:DOT.X: In your Index Update your refer to the DOT breaking 550 as major support. Is that a typo? Did you mean 650? <<<< 550 is the main support which is the previous trough about 7 days ago when the DOT.X first sold off. The 50 day moving average is around 619 for today. I would not be surprised to see a bounce in the DOT.X around the 50 day moving average, but as I mentioned in my INDEX UPDATE, I am suspecting that a TRIANGLE/PENNANT may be forming producing LOWER HIGHs and HIGHER LOWs, which would imply that the DOT.X may be consolidating. However, is a TRIANGLE was to form it should be bearish in nature. seeya

To: KaiserSosze who wrote (12371)	4/29/1999 10:10:00 AM
From: HairBall	Read Replies (4) \| Respond to of 99985

KaiserSosze and All: So far, the expected rotation to safer ground is giving the Dow Indices much more of a boost than expected. If this rotation continues and the expectation that the Dow Indices are safe dissipates, the Dow Indices should begin to decline. The main risk is all the major Indices will begin to decline at the same time. This will propel money into bonds, money markets, etc. in an effort to find even safer instruments. Of course, the BTD'ers may well "see saw" the Indices as sentiment "ping pongs" in and out of the “hi-techs and “internuts”. (Well if I am going to be credited for having it in my "dictionary" I may as well use it...right donald...<g>) Note: As the ball of sentiment bounces along, the amplitude of each bounce diminishes...as may the "will" to BTD, if progressive lower highs and lower lows become apparent. Also: The Dow Industrials just rocketed back up to the previous lower trend line of the intraday trading channel (violated by yesterdays plunge) I have been tracking only to be immediately repelled. Will this previous support line, prior to yesterday's plunge, now become resistance or will it give way? As always, only time will reveal... EDIT: Right NOW, is a very critical short-term time frame. Will the Dow Industrials break above the intraday support/resistance line or not. And, will the Hitechs and Internuts follow.... Regards, LG Disclaimer: 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.