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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.31

0.0%

Nov 12 4:00 PM EST

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To: marginmike who wrote (73221)	3/24/2001 2:27:52 PM
From: bobby beara	Read Replies (3) of 99985

i'm unsure of the bear rally, it sure does look like we should have one - the market is extremely sold out on every indicator, but i question the strength of the market when after a vix hitting over 40 and the nasdaq gaps open, gets sold into and closes with no gain - where are the buyers? also it formed a doji on the downtrendline, everybody is turning pretty optimistic and thinking the bottom was in, we had low p/c reading of friday, which has been a contrary indicator all the way down. stockcharts.com cien gapped open into the breakdown gap of march 12th and sold off and most of the networkers have flat channels lasting for two weeks now, those should break soon, the odds are they will break with the trend. cien has been a leadership stock, from the looks of the chart, makes me cautious. b

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