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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.43

+0.2%

Dec 2 4:00 PM EST

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To: bobby beara who wrote (82828)	3/13/2002 12:31:23 PM
From: KymarFye	of 99985

I'd entitled that purty chart that Pacbell won't let me post "Beware the Wedgies of March!" We bounced off the conservative wedge breakdown/38.2% of rally high vs. swing low target in the AM... Breadth improving through the lunch hour range... probly heading to y-day's low if not the open... My guess is that the rather extreme low negative tikq readings (-791) are blowoffulous (from a very short term perspective) rather than sturmunddrangurific, with a bullish divergence at the current LOD (also a descending wedge), but a new LOD could negate that idea. S&P and Dow held yesterday's low. Volume overall on the Nas still below average and below yesterday's... plus another crappy 20-pt tradable range so far... it's just not the same old Bear market, y'know? God I miss it... A dramatic reversal might be fun, but, in this market, that's like a 1% move.

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