MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.93

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Nov 14 4:00 PM EST

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To: HairBall who wrote (44818)	4/3/2000 11:59:00 PM
From: bobby beara	Read Replies (2) of 99985

LG, while i'll agree to some market manipulation, i can't buy into some massive scale big boyz manipulation on the dow here. There simply are a lot of oversold dow stocks that are bouncing hard off oversold conditions, plus you have a flight to quality issue out of nasdaq stocks. This is simply the crowds effort to try to jump on the next trend, they still don't want to build any cash, stay fully invested in something. i'm looking for the 8/25/99 high to be resistance on the dow, if that doesn't hold we go back to the jan high. but we are in the bottom of the ninth and there are two outs, and this beara is about to catch strike three. i think that 3/24 spx doji after a vertical move will be as invincible on a closing basis as fort knox. b

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