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

To: dennis michael patterson who wrote (21196)	7/27/1999 2:34:00 PM
From: Les H	Read Replies (2) \| Respond to of 99985

NDX is the second average to recover above the 28-day EMA at 2301 that centers the upper and lower trading bands. DJIA at 10,970, S&P 500 at 1368-9, and Nasdaq Comp at 2693.

To: dennis michael patterson who wrote (21196)	7/27/1999 6:22:00 PM
From: James F. Hopkins	Respond to of 99985

Dennis ; It broke resistance ( The NDX ) but it was not convincing They ran the NDX up at the last min , for a gap down in the morning , after the gap down the war starts.. To many new lows today, rally was strong in the indexes with too few stocks. A/Ds were 16 to 13 in the nyse with 2 to 1 up vol so a/ds should have been a little better. Also had 41 new highs to 134 new lows The Naz had A/Ds about 21/18 with 7 to 3 up volume, it just was not a broad rally, not as broad as the sell off was last week so unless it picks up it will fail. 59 NH to 71 new lows, it's not broad enough yet to make me bullish. Maybe rotation tomorrow ? We never had any capitulation on the sell off, and while me may get another day or so up, I don't think we have put in the low. Jim