MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.52

-0.3%

Jan 7 4:00 PM EST

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To: StockOperator who wrote (55409)	6/26/2000 10:53:00 PM
From: Tunica Albuginea	Read Replies (1) of 99985

StockOperator, so what you are saying is that we go up, unless of course we go down. I get it -g- Thus my next move logically is to continue to do nothing, -g- TA Message #55409 from StockOperator at Jun 26, 2000 10:39 PM ET I believe the best way to trade this market successfully over the next couple of weeks will be to stay with the obvious strength - TECHNOLOGY! According to my work the momentum of the past couple of weeks will continue and become more apparent as stocks continue to push through resistance areas. The charts for stocks like ORCL, SUNW, and CSCO are telling me the next leg up may indeed be forming. I think the biggest bang for your buck will be in playing the techs that have yet bounced. Stocks that have taken the biggest beating that have managed to base over the past weeks. Regarding the DOW - I think it's important to shut out the daily noise with this index and not get too excited or "DRAWN" into a triple digit move like the one we saw today. I say this because the DOW is still trading within this very ugly diamond formation. Resolution is close at hand. Because of this serious divergence in chart patterns for the DOW and NAZ I believe the action will favor the tech sector. Unless of course this diamond proves itself to be a continuation pattern. Regards, SO

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