MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

+0.4%

4:00 PM EST

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To: American Spirit who wrote (76380)	5/2/2001 3:48:06 PM
From: t2	Read Replies (1) of 99985

I am watching how the Naz has gotten a little weaker. (up 41 now) It got weaker even after 3:30...If the the last 15 minutes are strong, the case for a good move tomorrow is also being setup. Otherwise, we may be in for a bit of digestion of recent gains. A sideways last 15 minutes and I would think is still a mildly bullish case for tomorrow. My reasoning is that profit taking or shorting (sellling in general) should be sustainable for a 1/2 hour BUT the market is not co-operating! If that trade is not working, they will cover or just stop selling. The selloffs of the recent past have followed this pattern..kept going down right into the close.

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