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

To: StockOperator who wrote (13552)	5/11/1999 2:23:00 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

SO: Actually my "end of day" work, expected the TYX to retrace some from the recent break out, starting yesterday. Of course, that does not always happen in straight directional moves. However, yesterday's strong move down and today's strong rebound has already concluded that retrace. In additional, my NYA/COMPX Composite chart had a break above the bullish flag yesterday. That would portend more upside movement and we have received follow through today. Of course, chart formations are not 100%. Bottom line, I was expecting as of this AM, that the Market as a whole would work begin to work its way up. So far, so good. But, I was not expecting a resumption of the bull, not yet! With this quicker than expected rebound in the TYX, I suspect this Market follow through will be arrested, unless the TYX does another about face...<g> Which ever way one places his or her bets, it would be prudent to stay nimble...and not stay married to one's position! I think the "big boys" like to create "dust storms" around pivot points. Like I said, my intraday technicals gave sell signals on several Indices at 13:22 EST., a little earlier than expected. Note: Intraday timing signals subject to change without notice. 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.