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

To: Les H who wrote (39311)	2/6/2000 12:56:00 PM
From: Michael Watkins	Respond to of 99985

>> Also, the ADX on the NDX also crossed below 25 this week. At least, it's a harbinger of a trading range. << Yes, this is pretty typical of a 1-2-3 top. A sharp drop will cause ADX to spike up ;) although ADX is pretty slow to react to all but the sharpest reversals. I try not to think of why the market will do anything and just watch and make decisions. But I can't help but muse that a simple lack of buying or a lack of an important catalyst to move the market higher may be the real kick start for a decline. With earning seasons close to over (and mixed or negative reaction to many supposedly "good" stories) and high profile mergers being sold on the news - what's going to drive things higher? Continued Fed watch? I don't think so...