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

To: Casaubon who wrote (14022)	5/14/1999 10:43:00 PM
From: bobby beara	Read Replies (3) \| Respond to of 99985

Casaubon, I still have to think that real stuff is going to be the next bull market (and it's showing up by the broken uptrend in the bond market and the new upleg in rates. People not long ago talking about $5 oil, recent depression era pricing in live hogs and have been incredibly bearish on gold, everybody is selling it and say it's not relevant anymore - what better sentiment to find at a market bottom -g- Real stuff, will be the right stuff, imo. the drug bull market for boomers peaked in the 60's -g-

To: Casaubon who wrote (14022)	5/15/1999 12:17:00 PM
From: Lee Lichterman III	Read Replies (3) \| Respond to of 99985

>>I believe the next sector to lead will be the drug industry<< Why do you believe this? View my chart of the DRG index at the MDA website. ESPECIALLY the weekly and it has just recently fallen out of the long term channel. This is either a very bearish sign or else to get back in, you will be right since it will take one heck of a rally to do so. To all, all my charts are updated. Note wothy things I saw as I did so. Due to a fork violation, I found a better XCI Computer index fork that points down more than previously although it really doesn't follow all the rules to a tee. There is a disparity between the utility index and the long Bond. This is due to a tweezer top in the Utilities implying a drop yet the TYX is at the top of my fork implying that it shouldn't be able to rally much more. (not to brag too much but the fork held perfectly yesterday's pop in the TYX <ggg>) The SPX and OEX are about to break below the fork that has contained the index movements perfectly for months. Best fork I could find to replace it is in red and points downward. The DXY US Dollar index formed a daily hanging man which is bearish. The AUX auto industry index daily looks horrible and the weekly gave a tweezer top which should mark the top. The FPP formed a tweezer bottom implying a rally and should imply a marked return to cyclicals as they move up. DOW chemical which was onmy short list bounced quickly Friday and gained for the day despite a previous over bought condition supporting this move up in the prior unloved. Looks like the real money wants dividend paying stocks now to maintain income. Either we are in a for a drop or at least they see flat times ahead and want those dividend checks. Personaly I still don't see a crash, nut instead more of a grinding down. Too early to know much for sure, these are just my impressions as I ran through my charts to update the sites. Have to go do the lawn and garden care chores now. Also note that the XAL broke downas stated Thursday night out of the wedge. Guess I should have bought those puts. Oh well, EDIT - Vitas, great post showing the reversal Good Luck, Lee