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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 692.06

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Feb 10 4:00 PM EST

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To: HairBall who wrote (20989)	7/24/1999 10:37:00 AM
From: John Madarasz	of 99985

re: Distribution in the DOW INDU average daily volume = 856,600 DATE High Low Close Volume 7/23/99 0 0 10910.96 0 7/22/99 11140.51 10796.67 10969.22 7717000 7/21/99 11142.72 10865.69 11002.78 7855000 7/20/99 11245.62 10914.13 10996.13 7548000 7/19/99 11321.61 11069.9 11187.68 6423300 7/16/99 11300.08 11069.27 11209.84 7141000 7/15/99 11313.37 11072.75 11186.41 8188000 7/14/99 11289.95 11051.86 11148.1 7561000 7/13/99 11277.6 11013.55 11175.02 7360000 7/12/99 11314.64 11087.95 11200.98 6853000 7/9/99 11284.25 11050.59 11193.7 7010000 7/8/99 11290.58 10985.68 11126.89 8306000 7/7/99 11268.42 11008.16 11187.36 7912000 7/6/99 11291.21 11021.78 11135.12 7229000 7/5/99 7/2/99 11205.41 10995.5 11139.24 6135700 7/1/99 11156.65 10841.63 11066.42 8434000 6/30/99 11120.24 10657.36 10970.8 11170000 6/29/99 10855.56 10589.61 10815.35 8201000 6/28/99 10792.24 10535.15 10655.15 6529100 6/25/99 10719.42 10477.21 10552.56 6234600 6/24/99 10736.83 10404.07 10534.83 6904000 6/23/99 10791.29 10542.75 10666.86 7318000 My limited understanding is that for a (long term) bearish warning signal to be valid volume must be on the increase during the decline, and should be higher than usual. In regards to "price movement" and psychological price #s and support areas and how they are manipulated, I would refer all to the chapter" Buying and Selling" in Richard Ney's book "The Wall Street Gang"...very revealing. It is so easy to see the pieces of the puzzle come together while reading this book. At the risk of repeating myself, I would like to thank everyone who takes the time and effort to share their insightful thoughts here ; I take great personal pleasure in reading and learning from the daily exchanges. A more comprehensive and well thought out thread cannot be found on SI, in my very humble opinion. Thanks Again, and very best wishes to all. John Madarasz ps. apologies for the jumbled chart, my intentions are the best however, most importantly in regards to volume figures

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