MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 695.17

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4:00 PM EST

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To: eichler who wrote (80645)	7/21/2001 12:25:39 PM
From: mishedlo	Read Replies (2) of 99985

Eichler I would appreciate your comments on the last graph here: pristine.com Read the text as well. I fail to see anything bullish here. I keep seeing a few headfakes above 2078 and a Naz that can not even get back to the top of the channel. Seems more likely to me that the next test of the bottom falls thru, especially with MSFT cooperating. MSFT INTC CSCO QCOM will hold the key. If they rally the market will rally with it. If they die the Naz is going down. It is as simple as that IMHO. QCOM at top of range facing huge resistance. INTC appears to be right at resistance as well. What kind of pennant is that from roughly June first until now? I do not know how to read these things. As for MSFT and CSCO without looking at a chart I would suggest it is clearly making lower highs and lower lows. I just do not see much of a bull case here. M

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