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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 662.63+0.4%Nov 19 4:00 PM EST

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To: Lee Lichterman III who wrote (7463)3/4/1999 10:11:00 AM
From: bobby beara  Read Replies (2) of 99985
 
Lee, we are heading higher. IBM had a real nice H&S pattern which was on support yesterday, the bears didn't have enough ammo to take it down (ditto for the nasdaq)

Now IBM up big,failed H&S patterns are bullish.

People got very bearish at the point of breakdown, breakdown failed, enough bearishness to set a bottom.

Interestingly the top ten timers were 100% bullish on January 8th, now 50% bullish.

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