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

To: HairBall who wrote (42259)	3/5/2000 10:26:00 AM
From: John Madarasz	Respond to of 99985

Great charts LG... especially the NAZ...my favorite...Thanks. School of thought out there that sez that the SPX will have to fill the gap at 1380 before the next course of direction can be looked for. The NAZ chart seems to be setting up in much the same way that it did in late December of last year. With the RSI rising here, possibly into the 80's there could be further strength for the short term due to good money flows and OBV, overall high bullish sentiments and a lack of economic data to influence traders... biz.yahoo.com It will be interesting to see if the RSI finds and holds the 80's this upcoming week, then falls off with a selloff on anticipation of the following week's economic reports and the FOMC on the 21st... biz.yahoo.com Sentiment indicators are extremely bullish as you know, and I think that as long as the money continues to flow from the fed and the investment community at large we will breach 5000 at least on a intraday basis...maybe even hold for a day or two assuring complete conviction in the market. I'm sure this will be the feather du jour in the greed infested cap of so many investors... I'm super cautious here, and mostly in cash. As a real novice to the market and to trading I have a hard time totally committing to the long side at these levels, and probably took profits too soon. I just can't argue with 200% returns when 12% is the historical average. I'm flabbergasted that no-one seems to be satisfied that they are blowing away the historical norms on returns, most everyone just wants more...seemingly forgetting that the markets can turn just as rapidly and paper profits can be erased before ones eyes... It's all very sobering to me to say the least. Thanks again to you and everyone else here who takes the time to contribute usable information. I've increased my learning curve immeasurably by reading this thread, and become a better and more responsible investor because of it. Best regards, JM