MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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To: Boplicity who wrote (78433)	6/11/2001 2:54:40 PM
From: t2	Read Replies (1) of 99985

B, One cannot dismiss a short term trading range as being negative for the market. To me it would be a sign of strength. What happens as we get out of preannouncement season and into earnings? It is not a bad assumption to think that traders would have a tendency to short ahead of and into preannouncement season and cover and buy ahead of actual earnings...basically a return to some old patterns we have seen in the last couple of years except during the the decline of 2000/2001 and the run up of late 1999 and early 2000. This time around the expectation is for big preannouncements and that is unlikely to materialize due to such reduced expectations for most mid to larger cap tech stocks. If in fact this market moves slowly higher in the coming months, it could signal a new bull market assuming the economy is recovering as so many of the FED speakers suggest it will.

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