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

To: HairBall who wrote (15041)	5/26/1999 8:38:00 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

The MDA Web Site seems to be having server problems again tonight. Regards, LG

To: HairBall who wrote (15041)	5/26/1999 9:18:00 PM
From: donald sew	Respond to of 99985

Larry, The DOT and COMP had HAMMERS which are reversal signals to the upside, but the RUT had a "IN NECK" which implies continuation to the downside. seeya

To: HairBall who wrote (15041)	5/27/1999 2:09:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

DOT and NASDAQ appear to be hammer bottoms, RUT is long lower shadow borderline hammer but more important to me was the tweezer bottoms on the SPX, OEX and Bank indexes. Should be bullish despite the futures. My charts are updated as is the candle page. There was a discussion about funds earlier today and it sparked a thought if one believes in market manipulation. When Goldman was going to do the IPO, the market got real shaky for a while and we commented and saw articles accusing them of propping the market up. If indeed they were buying up a lot of stock to try and hold the indexes up for the IPO, they would be over weighted and need to make adjustments once everyone forgot about it. Did we forget? To be honest,I don't remember how long it seemed to be held up artificially before the breadth improved and others started buying also. Just another conspiracy theory with black helicopters and such. <ggg> They maybe lightening up adding pressure to the cyclic downturn. as they unload those shares they really didn't want. I didn't feel today was real healthy even though WCOM did OK, since MSFT and GE didn't participate much and there wasn't the spike in volume that signals selling exaustion usually seen in a real bottom. Most of the move today was 14 IBM points which was half the DOW move and brokers like JPM and SCH. However these bounces came at perfect points on my charts and did form bullish patterns for the most part. I am watching key levels here to see how the follow through is on specific issues and if the leaders continue to be laggers, I will discount this bounce to J6P end of week dressing to avoid panic over the 3 day weekend if there is no improvement here. Still the bounce was healthier than I expected and there are some bullish signs. TRIN stayed low most of the morning and the momentary high negative TICKs were discounted for the little bit I saw of it. My TRIN chart reversed and I will be watching close for the next turn. I still feel the Utilities are the key here for the next wave. Last summer the utilities rallied hard before the July sell off. They are doing so again and are extremely over bought according to my system. With their inverse relationship to bonds, when they turn down, it could signal the beginning of the next Bond interest rate rally to the 6% area. This could put some serious pressure on the market Good Luck, Lee