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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

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To: bobby beara who wrote (83668)	2/7/2003 8:38:36 PM
From: Tom Pulley	Read Replies (3) of 99985

Glad this week is over. I'm starting to wonder if we are going to go all the way to "capitulation" type readings on the indicators. The plot below of NYSE stocks above 50 day moving average is fast approaching the levels reached in Sept 2002, July and Oct of 2002. stockcharts.com[e,a]dacayyay[d20010602,20031231][pb10!b][vc60][iUo10][J6813267,Y]&pref=G And bearishness is increasing: village2000.com Is it possible that the market won't turn positive until Iraq uncertainty is ended? If that turns out to be early March as some say, this won't be one of my better months! (g) I may be an optimist but I see some positives in that the economy is slowly, slowly working its way forward and Venezuela oil production is back up to 80% of capacity. businesscycle.com Tom

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