Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Jerry Olson who wrote (41608)	2/27/2000 8:52:00 PM
From: HairBall	Read Replies (3) \| Respond to of 99985

OJ: Do you piffers have anything for the NASDAQ like the NYSEBP? And if so, what is it saying? Regards, LG

To: Jerry Olson who wrote (41608)	2/27/2000 9:07:00 PM
From: Michael Watkins	Respond to of 99985

Hi OJ, Well I think we again are saying pretty much the same thing. I won't discount the SPX moving below the Oct 98 trendline (and closing there on a weekly basis), its not a good sign. Its not terminal in and of itself, but it is not "good". Where we differ is that I'm pretty convinced that any rally from here will fail. Not that I will not act on it, but failure seems highly likely. If the SPX starts moving lower I think it may start the down draft, although it may well be the tech components that start it. Everything is so interrelated. But I will say this, with the SP futures being one of the more global instruments, if it starts to pick up more steam to the downside, we are going to see acceleration, not reversal. I don't know much about the NYSEBP but since the NYA is several major trading channels broken, the NYA again supports my thesis that rallies will fail at resistance simply because there's so much of it. But what the heck, we will see soon! Best to you and that lady of yours!