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

To: HairBall who wrote (39032)	2/4/2000 8:48:00 AM
From: John Madarasz	Read Replies (1) \| Respond to of 99985

US Jobs-STATS-Summary 2/4/00 news.ino.com *********************************************************** BRIDGE ALERT EU DEBT US Jan jobs 387000 jobless rate 40 Feb. 4-MAR-- [B] BRIDGE ALERT: EU DEBT: US Jan jobs +387,000; jobless rate 4.0% Aided by unseasonably warm weather, US non-farm payrolls surged 387,000 in January, the biggest increase since September 1997 and dramatically above market expectations of a 250,000 rise. Construction jobs jumped 116,000, the largest increase since February 1984. The unemployment rate fell to a 30-year low of 4.0% for the month, matching the consensus. Average hourly earnings rose 0.4%, in line with market expectations. Bridge News End news.ino.com

To: HairBall who wrote (39032)	2/4/2000 6:44:00 PM
From: Michael Watkins	Respond to of 99985

LG, In the last bar of the sixty minuted interval chart the COMPX stopped at a 83.3 Fib retrace yesterday and formed to me what looked like a hammer. I believe that is a reversal formation, but I am no candle expert. Hammer shaped true enough, but refered I think as a "hangman" when it occurs at the top of an uptrend. Not hugely reliable all by its lonesome, and today's gap up on the COMPX is testimony to that... although with the relative strength of tech I think it was a forgone conclusion the market would at least get very close to testing its all time high. Which the NDX did.. and did not hold, nor did the NDH0. I just think its worth being prudent here. We can evaluate any pull back on its own merits. Cheers Michael