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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?


To: Monty Lenard who wrote (16344)6/7/1999 6:43:00 PM
From: J. P.  Respond to of 99985
 
The Nasdaq is sitting at an interesting point right now, tomorrow's close is critical in my view:

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Today we closed slightly above the 200 dma, however we are sitting right at the upper trendline of the general downtrend since mid-April. I think if we have a close tomorrow higher than today's close, we'll start leg up.

However, if we close lower, it's my belief we can drift as low as 2400 without much support.