MDA - Market Direction Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.92

-0.7%

Dec 31 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: dennis michael patterson who wrote (41530)	2/27/2000 11:00:00 AM
From: Les H	Read Replies (2) of 99985

If you look at the Chaikin money flow for the NYSE and Nasdaq, they've been clearly trending down for some time. For the NYSE, it peaked last Spring, and for the Nasdaq, in early December. One of the difficulties of using the Money Flow of late is the significant number of opening gaps up caused by MOO orders. The best sign of distribution is the inability of an index to hold new highs above prior peaks. The Dow has had several failures since last Spring and has finally given up the ghost. For the Nasdaq, the make or break short-term is 4190. The next key would the ability to hold the reaction lows of those peaks at 3700-3800. It'll be interesting to see how much of the money rotates into the Nasdaq for the next and perhaps final push if the market stabilizes in the next week to week and a half.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next