MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

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Nov 7 4:00 PM EST

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To: JRI who wrote (67174)	1/19/2001 5:22:43 AM
From: craig crawford	Read Replies (1) of 99985

Here we go with the overbought stuff again. Many of the technicians on this thread have been saying the Nasdaq is overbought for the last 200-300 points! Obviously overbought doesn't mean much of anything if you're coming off a bottom. >> This doesn't seem healthy to me at all...some stocks up 60, 70, 80% and more in less than 2 week...bubble part deux..what happened to "building a base" ? << Stocks need to break their downtrends before they start their basing patterns. Many people on SI have erroneously been saying the Nasdaq was going to have to base for a while before it could break out. That's incorrect and I posted a message explaining why. Message 15134653

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