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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.56

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To: donald sew who wrote (7481)	3/4/1999 1:13:00 PM
From: bobby beara	Read Replies (2) of 99985

Donald, IBM gapped to it's downtrendline and followed thru. If we hold that line and the economic numbers don't spook the market, i believe we will head higher into April. Merrill Lynch is breakout of it's base at 80 today. I believe the decision is being made to take it higher. shahar.nets.com:2000/nasdaq.gif the head and shoulders pattern turned enough bulls bearish to set a bottom. Stan Erhlich who in January was calling for Dow 11,400 based on the pattern became worriedly bearish at the H&S on the Nasdaq. bb

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