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

To: sean sanders who wrote (18826)	6/29/1999 9:56:00 PM
From: bearshark	Read Replies (2) \| Respond to of 99985

Sean: My last post today mentioned that anything above 770 million shares would be positive. We pushed that over 820 million shares and much of it was at the end of the day. I suppose there was short-covering and outright buying. In my opinion, the strong volume is important for several reasons. One is the symmetrical triangle on the INDU. We either broke out on heavy volume or are at the top of it tonight. The stronger the volume to get out of that triangle, the better. I also want to see the moneyed people commit to this rally. That is shown with heavy volume. Once the momentum is built for a move, it is hard to stop--just like a stampede. Tomorrow morning, I will be looking for over 130 million shares in the first half-hour. Now that we are over 800 million, it would be nice to see 1 billion NYSE shares traded tomorrow. If we have broken out of the INDU triangle or break out of it tomorrow, we will probably come back to visit the apex or near it--that is about 10,700. If this is the real thing, another great buying opportunity should appear at the apex. However, this is just guessing. Tomorrow the market will tell us what it wants to do. However, it has been screaming that it wants to go up for over a week.