MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

+1.6%

Nov 10 4:00 PM EST

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To: shasta23 who wrote (41699)	2/28/2000 6:35:00 PM
From: Michael Watkins	Read Replies (1) of 99985

Stefan, Thanks for the kind words... :) Regarding your comment NDX looks like the mythological monster HYDRA for the Bears. You chop of one head and another one growths in it's place. Amazing recovery We shall see if this comes to pass. I don't "think" it will; but we'll just have to go by our analysis and leave the "thinking" out of it. I'm not in my office today and don't have access to my tools, but casual observation of a few names: CSCO, mentioned earlier on the thread, the key level for me in this stock is today's low. Be on guard for any break of that low. This level has a relationship to 2/14 (or 15, can't see using SI's 60 min chart) and means a lot to my analysis. On the surface things look bullish but only if it can hold above there. That it closed the day on a 60 min down bar, under the 20EMA-60, not a bullish sign. So one plus, one negative, tomorrow should tell the tale. COMPX - looking at this I'm rather happy I missed today's trading day for the most part. Still no resolution, COMPX is completely stuck within its trading range that first began to take form on 2/24. No resolution yet at all. With any luck the dark cloud cover on the 15 minute chart (third bar from the end of day) will live up to its billing and prove to be resistance enough... Will have to have a more detailed look at charts and breadth/volume when I get back. Cheers Michael

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