MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 685.66

+0.2%

Dec 5 4:00 PM EST

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To: eichler who wrote (78814)	6/16/2001 7:52:38 PM
From: el paradisio	Read Replies (1) of 99985

I think,the downtrend should not last longer than 1-2 days and the gap on Nasdaq around 1950 will hold.. I expect the next high on Nasdaq to go above the recent high with the first resistance at around 2400. Friday close looks bullish to me....you won't be able to see it yet on weekly charts. Correction for Networking and Internet sector is done... MSFT should hold 65-66 area IMO. Difficult to say yet, if this is the beginning of the new bull market (possibly yes)...or it would be a double top. I found some similarities in the recent peak and mid-July 00,now the question is...if next high will be like in Sept 01 00, or the new bull market will take over... Still supply is higher than demand...but only in the stock market. When most of the corporations are cutting production by 30-50%...soon we may find, that we don't have enough goods for growing population. Regards, el

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