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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 671.910.0%4:00 PM EST

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To: t2 who wrote (81232)8/7/2001 1:23:14 PM
From: eichler  Read Replies (1) of 99985
 
Greetings NV,
Grrrr ....earthlink stinkin up da joint..."you have been disconnected"..they do this to me 2-3 times a day. I'll try to post this again....
<Does it not seem bullish that the Nasdaq market has just stalled at down 30?>
Well, yes and no...
It's comforting that the Naz is being stingy giving up ground with the daily chart on sell mode...but as the chart still looks negative, it would behoove to conjure patience to see how this shakes out over the next couple days...
For now, I'm sticking to my thoughts posted Sunday expecting weakness for 5-6 days from the 8/2 high....so far, three days of lower highs and lower lows...I'd like to see some proof of a turnaround back up first.
I've highlighted what I believed to be the key components of the daily chart.
home.earthlink.net
Of course, there are always stocks going up even when the market is going down...so selection is crucial.
Best of Luck!
Regards,
Eichler
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