MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.17

+0.2%

Dec 11 4:00 PM EST

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To: HairBall who started this subject	6/30/2000 12:45:04 AM
From: Jon Tara	Read Replies (2) of 99985

This thread is getting too short-term bullish. Therefore, I think I will go over the the bear camp for now. I notice a lot of SAR reversals today and yesterday on individual stocks that I watch. For example, CNXT yesterday, MSFT today. The NDX has has one for 4-5 days now, and the SOX as of today. The percipitating event that I am looking for a decent leg down is a QCOM close below 60. It's proving resilent so far, but I think that if it does close below 60, it will be a confidence-buster for the market. QCOM has been a nagging thorn in the side of the market, and a serious break could really hurt.

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