MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 686.19

-0.5%

Feb 4 4:00 PM EST

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To: Stcgg who wrote (54565)	6/18/2000 11:17:00 PM
From: Mike M	Read Replies (2) of 99985

We have the Nasdaq sitting with a rounded top on an artificially created Island that refuses to rise.. Now how could anyone assume this activity is all of a sudden going to create a burst of impulse buying to the upside that someone isn't going to be selling into before anyone else gets the chance to do so? Unless the market is waiting for a catalyst. Perhaps the Fed will proffer some assistance with a no raise decision in the short run. I'm not suggesting we aren't in a bear market but instant gratification may be difficult to realize in either direction in the short run. Daily stochastics overbought. Weekly,at 39 is not...Bollinger is inconclusive. I'm of the theory that, in the short run, the market will fluctuate...In the long run..., hell, in the long run we're all dead.

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