MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 686.10

-0.5%

4:00 PM EST

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To: dennis michael patterson who wrote (21862)	8/3/1999 11:59:00 AM
From: j.o.	Read Replies (1) of 99985

The price action late in the day was crushing. It was evident that a lot of short-term players got burned trying to call the bottom here. That might lead to the conclusion that the big boys are trying to push it lower here and make the final, conclusive break with the long-term trendline. They still haven't won...but they're trying again today. After yesterday, they probably have momentum on their side. j.o.

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