MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 691.88

-0.3%

4:00 PM EST

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To: Casaubon who wrote (7183)	2/28/1999 9:46:00 PM
From: bobby beara	Read Replies (1) of 99985

Casuabon, I believe the volume on Friday was very telling on the Nasdaq. The volume on bellweather INTC was BIG as it crossed it's support line. That's a big CLUE. Forget the NYSE the Nasdaq is the driving market and everybody is in techs. This chart may also be a prelude of things to come. cp-tel.net When the Nasdaq breaks support, I believe we will see one of those 1.2 bill share dayz and by that time the herd will know the resolution and get on the board the selling train. On that site, I also have a chart on the NYSE, the failed buy spike on the NYSE, with sentiment still in the 50+% bullish range is ominous. There has been no washout in breadth or sentiment during this correction from the super bullish top in the first week of January. The only resolution can be down, there is no base here for a move to new highs, isn't three failures in the SPX enough to make us go down for some scrounging around in the depths, or do we give the SPX a couple more trys because we are nice bears -g- Add in beacoup stock splits, broker pumps and dumps, you got CHAOS about to break this calm little trading range. beara

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