MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.08

-0.8%

Nov 18 4:00 PM EST

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To: dennis michael patterson who wrote (45371)	4/7/2000 7:25:00 PM
From: bobby beara	Read Replies (6) of 99985

d, the only capitulation i am seeing is the perma-bulls who have said that every dip, like the 3337 dips before is a buying opportunity, are now nervous and no longer pounding the table that the nasdaq is going to overtake the dow -g-. the ndx chart looks good to me - and watta jenifer lopez V-neckline bottom - va va va voooom -g-, the compx is at an area of resistance. the sentiment picture is confusing, on one hand you have massive volume hammer and margin calls out the wazoo and a vix up spike, which indicates a bottom, on the other hand you still have too much call buying. I believe the washout should provide a floor through earnings season and we will retest the bottom in the may/june period, my wag.

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