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

To: KM who wrote (20857)	7/22/1999 8:00:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 99985

Truff, your right about that, except for off the last July top my posts increased exponentially also -ggg- I've learned how to take my own posting mania as a contrary indicator (when confirmed) and go long for profit -g- intelligentspeculator.com notice the big volume black bar after we filled the morning gap, that broke support (1372 cash i believe) Bear Rydah -g-

To: KM who wrote (20857)	7/22/1999 8:35:00 PM
From: investsformoney	Read Replies (1) \| Respond to of 99985

Today's Price Action on the naz C,O,L,H 2749.05 ,2761.77,2679.35 - 2749.05 I have decided to start posting my views of the maket action. My approach is from a fundamental analysis standpoint. I use numbers to explain the fundamental action. Slide started in the am from the selloffs of aol and amzn mixed with interest rate fears. The numbers from aol and amzn were disappointing as the market much more from them. By the end of the day the fears become a reality without much fight from the bulls. The day low was between 1 and 1.30. This came due to the market reaction to the Humphrey Hawkins testimony which started at 11 am. The big sellof came from the bond market which saw the testimony as positive bias toward interest rates. The market simply has to factor in the worst case scenario before Aug 24 (next fomc meeting that determines the interest rates) this means we should continue to go down from here. This is the trend. Any strength offers a shorting opportunity till we see the clear reveresal. The expectations were no hints towards rate hike so the news only confirmed this and since this was expectation it was already factored in. The +ve bias is the surprising part of the news which is the reason for the selloff. This was a classic down day without much fight from the bulls. The last 5 minute bar is L shaped indicating complete negativity. In the absence of major market moving news the negativity should continue in the am tomorrow.