MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.08

-0.8%

Nov 18 4:00 PM EST

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To: Robert Graham who wrote (10424)	4/9/1999 1:44:00 PM
From: Compadre	Read Replies (2) of 99985

Robert Graham: I agree with you on the Nasdaq's strength. I also believe that the bearishness that Donald and LG have is for the overall Market, and not for the index themselves. Therefore they have a negative bias on their analysis and they may well be justified. As far as you and me are concerned we see the bullishness of the index and that's what our technical analysis is looking at. Having said that I do see a concern about the profit taking 2 days ago. Granted , it was mostly yhoo. But it was on huge volume, and that was not the only day. Last week on the 31 of march there was a 1.1 B share day as well. So while I am bullish on the index, I think it will pay to be cautiously bullish. I still think the index has more to go, since I see little change in my technical charts to change my mind. As I said , the only warning that I see is the volume on those down days. Regards, Jaime

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