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

To: Cathedra who wrote (12555)	4/30/1999 3:19:00 PM
From: StockOperator	Respond to of 99985

Tom, I think you make some good points. Here's how I view the charts thus far. Assuming prices closed right here at these levels. We have a serious push in rates to levels that are literally telegraphing that the high is NOT in. Sometime in the near future (weeks) rates imo, will see a higher level. The utilities on the other hand have ALSO broken out to new highs also implying that the highs have not been seen. The difference being the chart on rates shows serious upside resistance between the 5.8 and 6.12 levels. While the chart on the utilites is showing that this breakout could only be the beginning of a much bigger move. Their chart patterns are completely different and should be taken into consideration. This drama should unfold over the next couple of weeks or so. But I think the smart thing for all of us to do is to ask ourselves what the impact might be to our CURRENT environment. You may be right in the long term but it will be the short term that may keep you up at night. So a cautious stance should prevail until the charts tell you otherwise. Still waiting on the close. SO