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

To: awi who wrote (40061)	2/12/2000 9:42:00 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 99985

Anko, I had a quick look at the stocks and the index - with ADR stocks its a lot harder to read since they are so choppy, would love to see 45 minute charts from the home index, on a couple of them, but I think what I look for will be there. Like a lot of stocks in N.A., things are testing their tops all over. If it were not for the SP being so sold off, I would automatically assume big downside from here -- I muse that an oversold rally in the SP/NYSE might prop up the Nasdaq a little more. The diabolical thought I have is that money coming out of tech because of the altitude, and into the SP/NYSE, might actually trigger the bigger event. But musing never makes us any money, we will do what the market tells us to do. (which for me when I am away from the computer is stand aside right now). It all comes down to test of tops are important to watch. Consolidation sideways is not always a prelude to further moves up! Cheers Michael