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

To: j.o. who wrote (22242)	8/6/1999 5:34:00 AM
From: bearshark	Respond to of 99985

j.o.: The second half-hour of trading yesterday appears to me to have been some type of bottom--110 million shares and the NYSE held. However, in my view, the last hour was unimpressive--about 160 million NYSE shares. The waves of selling in the last hour were weak. If we would have had somewhere around 225 to 250 million NYSE shares in the last hour, it would have been impressive and I believe the INDU would have moved up by around 200 or so points. The INDU stocks accounted for 20 percent of the up volume yesterday which is well above the average rate of about 12 percent. For the above reasons, I will consider this a short-term trading rally.