MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.21

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To: ig who wrote (80640)	7/21/2001 8:49:09 PM
From: bobby beara	Read Replies (2) of 99985

ig, it's true that falling wedge has bullish implications, but there is no guarantee that we will break out of that now, i'd say that the tail into the trendline on thursday and the microsoft gilligan gap on friday gives the bears the 'jimmy the greek' edge to try to bring it down to the lower trendline. Message 16103999 the rydex leveraged funds which were look really oversold before the microsoft pump when we gapped up are already back to 'somewhat' bullish extremes, and we have yet to see rydex velocity assets beat venture (otc levered bull/bear funds) to show that most of the traders had capitulated and are trying to make money on the short side.

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