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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

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Nov 10 4:00 PM EST

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To: Lee Lichterman III who wrote (26238)	9/18/1999 1:53:00 PM
From: bobby beara	Read Replies (3) of 99985

I agree, further tech blow-off very likely, looks like the break of the ndx rising wedge last thursday was a bear trap and hammer reversal back inside the wedge. if you leave out the little spike up in july on msft you can draw an ascending triangle on msft with a flat top along the april top and we have a bull flag developing at resistance over the last couple of weeks which broke out friday. siliconinvestor.com on the bear side we have a declining H&S pattern, just like last fall, with a/d falling out of bed decisionpoint.com summation broke down out of little triangle with the weakness into Thursday, for this to be a bear trap, they will have to mount some breadth on this rally and turn this sucker up, the reversal in a/d and up/down volume on Friday was not that impressive. we really have a repeat of last year, except last year tech went down the drain with everything else at the late august top bb

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