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

To: Compadre who wrote (13764)	5/13/1999 1:56:00 PM
From: StockOperator	Read Replies (1) \| Respond to of 99985

Jaime, This market continues to throw curves at us. The drop in the trannies does not come at a great time in the markets. With the avgs. attempting to break into record territory you would like to see them moving in unison especially when they are trading so close to their tops. You hate to see stocks like AMR which broke out of it's consolidation yesterday only to give back all of those gains today, besides hitting a lower low from the previous day. Like I said the indexes, especially the DOW needs to build on their rallies the rest of the week. That goes for the trannies and NAZ as well which still has yet to retest it's old high of 2677. As far as the markets making an explosive move up my guess would be that that would most likely unfold between now and mid-July, with the momentum accelerating during the latter part of that time frame. I base that on how close we are to resolving these consolidating patterns that have developed on so many stocks. However, I do believe now is a critical time because the intermediate term trends need to be firmly reversed. Regards, SO