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

To: pater tenebrarum who wrote (20863)	7/22/1999 8:40:00 PM
From: bobby beara	Read Replies (2) \| Respond to of 99985

Heinz, from a psychological basis the rally from 6/24 was based on a friendly fed neutral bias, the Fed did not seem that friendly today, that's why i believe that whole move from 6/24 will be retraced before we get a rally. The one thing that bothers me about this scenario is that the OEX and the NDX has not broken support, if we do have the "expected" rally tomorrow will have to re-asses. The ending rally on the nasdaq had the appearances of a bear flag and I don't believe Amazon will find support until it reaches the neckline at 90, given the mega volume, this should set the tone i believe from the market losing OTX traders. Commodities are rallying off a double bottom, this will put the jitters in the bonds. bb