MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 676.47

+0.8%

Dec 18 4:00 PM EST

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To: Tom Pulley who wrote (83459)	10/9/2002 11:05:58 AM
From: Hawkmoon	Read Replies (1) of 99985

Not sure about a long term bottom being formed, but we should be getting close to some major long term support levels: bigcharts.marketwatch.com Unfortunately, the above chart also indicates a broad H&S formation (and is just breaking below the neckline) similiar to what was formed on the SPX: bigcharts.marketwatch.com And well... then there's the Nasdaq: bigcharts.marketwatch.com We're definitely due for some "interesting" rallies pretty soon.. but I perceive them to likely peter out at the top of their long-term trend lines. There's just nothing in the economic news that can motivate huge amounts of money being reinvested in the markets. Hawk

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