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

To: Lee Lichterman III who wrote (36700)	1/5/2000 1:28:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Tokyo Joe busted by the SEC. One pump and dumper down, a bunch more, analysts, Maria and Abby left to go. <g> Message 12471405 I see people getting excited DOW is up today yet looking at older charts I see this is common before the next leg down resumes. Still it doesn't appear we are going to get the 3 crows. That makes this harder to call, is the up move a fib retrace of yesterday's drop and an affect of the Fed adding 6.8 billion in repos or is it a successfull test of 11K support? A 38% fib retrace of just yesterday's DOW drop would be an up day of 140 points and that is not counting the two day drop amount so I am not exactly excited about the DOW's move up yet. <g> Took a dip today on a favorite stock but closed out after the bounce was only a little over a point. Back flat again as I try to decipher this move. Bond still dropping and I suspect with the weakness in the dollar it will drop more near the close. Question is will we get the Bond closing ramp in the indexes to lure in sheeple or will the traders decide not to risk holding over night? No answers just a lot of questions. So far my supports held on MMM, and a few others so I am watching to see if it is just a technical bounce or a real one. More P&F levels were broken today so I am leaning to the bearish side still. Good Luck, Lee