MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 677.58

+0.3%

Nov 5 4:00 PM EST

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To: StockOperator who wrote (37333)	1/14/2000 4:23:00 PM
From: StockOperator	Read Replies (2) of 99985

This is a big week for the market overall. After going sideways for the beginning part of the week, this bull has managed to take off exactly at the right time. In my last post I mentioned that we were sitting right on our support line and that the market needed to go higher if the trends established were to hold. The avgs responded beautifully. The significants of this rally is the DOW is now breaking out of a longer term consolidating pattern. This combined with a broad rally in most of the avgs should paint this entire move in a much clearer picture. Unfortunately, interest rates are continuing to move higher as well. But look at the financials - JPM up over 5, AXP up almost 3. It is because of times like these that I think it is wise to trade strictly off the technical picture of each individual stock or index. Doing otherwise would have taken you out of the game a long time ago. Good trading. SO

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