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

To: HairBall who wrote (14548)	5/21/1999 3:00:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

My charts were late but are updated also at homestead.com The ranges are tightening and I figure we have 2 weeks maximum before the NASDAQ breaks out of this wedge but I suspect it will be next week. Indicators like stochastics and other cycle type oscillators hint at a move upwards from here but formations and price action are pointing down IMO. The weakness in GE, MSFT, GTW, AOL and the declining triangle in NVLS coupled with tweezer tops in CPWR all indicate that the direction to come is downward and from the tight ranges on many of the stocks I track, the move could be swift and large. There are also many stocks that simply have gone flat, moving sideways out of their forks ro trendlines. I hate to say this but ... We could go up, down or sideways. <ggg> Actually I am leaning toward this scenario, A head fake upwards to suck ia little money then a reversal within a week of the intitial move to down hard. To those tracking the bond. The middle tine on my fork is holding thus far around 5.8 but even a break down here should only take us to around 5.65, after that we should cycle our way up to the 6.1% area and we wont hit real strong resistance until around 6.25. -EDIT- SO - Great post and I concur whole heartedly withyour points. bb - also a great post. We are all in agreement that a large move should happen because we are ina do or die situation. Now if we could just figure out if it is going to "Do" or "Die". <VBG> Good Luck, Lee