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

To: StockOperator who wrote (13868)5/14/1999 11:39:00 AM
From: donald sew  Read Replies (1) | Respond to of 99985
 
StockOperator,

Take a look at the advance-decline line. During the recent runups the advancers were ahead of the decliners by about 50%-100%, but with
one one down day the the decliners are are ahead of the advancers by about 200%. The market on a price perspective are bad but not awful, but the decliners increased at a greater rate. Such should turn the Mclellan indicator and summation index down/top off.

seeya



To: StockOperator who wrote (13868)5/14/1999 11:54:00 AM
From: pater tenebrarum  Read Replies (3) | Respond to of 99985
 
SO, considering the drubbing meted out to the long bond, the stock market looks quite resilient. i'm not yet ready to erect my tent in the bearish camp. as i have mentioned in a previous post, some of the bullish sentiment expressed by various analysts and fund managers needs to be taken out, and if the current weakness helps to achieve this, i would be more sanguine about the market's health. admittedly it is not easy to adopt an outright bullish stance amidst the revival of inflation worries and i am accordingly hedged left and right. but i don't think outright bearishness is as of yet justifiable. put/call ratios have been improving lately and it is rare for sharp declines to happen when they are doing so. the gravest danger visible to me is for the intermediate to long term outlook, due to the persistently high bullish consensus among newsletter writers and the many parallels between today's market environment and that of 1987.

regards,

hb



To: StockOperator who wrote (13868)5/14/1999 12:34:00 PM
From: Si_Detective  Read Replies (2) | Respond to of 99985
 
Hi, SO, I am new here but have been following your comments for sometime, thanks for all the good work.

I think even the Fed doesn't raise rate on Tuesday, a bias towards tightening rate will spook the market, esp. at this level.


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