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

To: pater tenebrarum who wrote (41589)	2/27/2000 7:19:00 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 99985

Heinz, Speaking of breadth, about the only true positive (if you can call it that!) I see in the Nasdaq is that volume is still heading to the advancers (although Friday caused it to level out again, in this resolution its barely perceptible near the cursor in this chart) intelligentspeculator.com The NYSE NYA index is a picture of failure after failure. The volume accumulator is lower than Oct 98 lows, leading me to suspect that ultimately any rally from here may well fail big time. intelligentspeculator.com And finally, the SPX chart and VIX. We can see stiff resistance overhead, and a tempting target near 1270 below. With VIX still not signaling a reversal and in fact apparently headed higher, Monday would have to show us a rally to stave off 1267 (cash). Hey, its only a couple limitdowns away. ;) intelligentspeculator.com Based on all of this, its my opinion that any rallies need to be observed for failure. I think making money on the short side is not yet over. Cheers mw