MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

+0.4%

Nov 19 4:00 PM EST

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To: iod_sherwood who wrote (68837)	2/9/2001 11:08:23 PM
From: Zeev Hed	Read Replies (3) of 99985

There are a number of potential external and internal catalysts, the external catalyst is probably the hearing in Congress (AG is going to mumble a little on Tuesday). More importantly, IMTO, are internal catalysts, today we have reached a level in the tic reading on the Naz not seen since January third, not negative enough to form the basis of a major bottom, but quite sufficient to cause a temporary bounce, particularly in view of the very sharp reversal later in the day. This coupled with the S&P reaching a major (downward) trend line at 1315 or so. After a very compressed 17% decline in the Naz, these should be enough, IMTO, for a relief rally. Zeev

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