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Strategies & Market Trends : MDA - Market Direction Analysis

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To: Crimson Ghost who wrote (55487)	6/27/2000 5:19:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

George, let's not jump to conclusions yet...it is however amazing that now that we know more or less that the FOMC is going to do nothing, it is the first FOMC meeting out of the past seven where the market fails to rally ahead of it...i guess too many people tried to front-run the event this time around. we still have the usual 'end-of-month', 'end-of-quarter' and '4th-of-July' mark-up periods ahead of us though...if they too fail to produce enthusiasm in the market, something is probably seriously wrong. i have studied recent filings, and it seems to me from my random checks that insider selling is once again accelerating mightily after a brief lull in May...which may explain why the still plentiful inflows into mutual funds haven't yet pushed the market higher. it is interesting to note that the first half of the year has so far seen the market engage in 'unseasonal' behavior - a sign that the market's character has changed. since the 'summer rally' with its traditional July/August peak is the usual 'seasonal' pattern, we will see if it continues to deviate from it. regards, hb

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