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

To: Don Green who wrote (17763)	6/18/1999 7:44:00 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

Don Green: I track the overall volume via my Composite Index and the volume is lower than the 120-day SMA, but not "way" low. I considered the Market in a declining consolidation mode since 4/27 with a strong expectation for a further correction until a couple of weeks ago when the bullish formations began to come to the forefront. And, until yesterday, when a higher high was put in. Follow through is needed to the upside to confirm, keeping in mind a very possible fill of the gap created with Wednesday's open. If the gap fill takes place (a big percentage play) and holds, chances of these bullish formations completing become much greater. However, the gaps need to be filled very soon. If the gaps fill further down the road, it will put these bullish formations in danger of negating. Regards, LG