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

To: Compadre who wrote (14339)	5/19/1999 11:38:00 AM
From: HairBall	Read Replies (2) \| Respond to of 99985

jaime choy: You forgot to mention that the Transports have dropped below radar... Oh yes, today will tell the tell or tomorrow will tell the tell or next will tell the tell...errr, aahhhh, cough cough....whoops, maybe that has been a little over used as of late...<g> Regards, LG

To: Compadre who wrote (14339)	5/19/1999 11:41:00 AM
From: Les H	Read Replies (1) \| Respond to of 99985

SOX has to go above 428 to break out.

To: Compadre who wrote (14339)	5/19/1999 12:24:00 PM
From: StockOperator	Respond to of 99985

Jaime, What you said makes a lot of sense. When you think about it the market's failure to breakdown after yesterday's decision by the FED makes perfect sense in that a breakdown is exactly what most people were expecting (me included). So the scenario you pointed out makes perfect sense simply because the longer term trends have remained bullish and because we are so close to resolving the patterns on the charts. Let me add though that I am still a little cautious here, I need to see more price stability. IMO, we are still at a pretty critical point. The transports are a perfect example. After rallying hard yesterday, they are showing no follow through today. Plus the pattern on the VIX still speaks volumes for a falling market. So I'm from Missouri on this one. I'm going to let the market "show me" where it wants to go. Time will tell. Great trading. SO