MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 690.27

0.0%

Dec 26 4:00 PM EST

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To: t2 who wrote (76614)	5/7/2001 4:26:39 PM
From: eichler	Read Replies (1) of 99985

NV, I don't make too much of the action today - consolidation, indecision... Daily chart still positive and the 60 min chart indicators are resetting possibly getting ready for a modest advance. I'm still feeling the same about an impending sell-off but I'm thinking it will likely co-incide with a "buy the rumor, sell the fact" kind of thing (FOMC) as others have mentioned. Although I have been watching rising wedges evident on the intaday charts, I'm now noticing the daily appears to be forming one. Probably not see anything conclusive unless there is a break above 2250 or a break below 2050. I'm just trading individual stock chart patterns using the index (comp) as a weathervane (neutral now IMO). I plan to be flat before the rate cut announcement unless the chart breaks one way or the other ahead of time. Noticing the quietness on the boards possibly reflecting the indecision, uncertainty at hand. Hope this helps. Regards, Eichler

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