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

To: Haim R. Branisteanu who wrote (42991)	3/14/2000 5:21:00 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

Haim: IMHO the trend is broken and any rally should be sold. I know you're speaking of the NAZ as the NYA has been trending down for some time. I think distribution in this rally from late Oct 99 was a red flag waving. The first rising wedge was broken to the upside only for a few days, just long enough to lure as the Index was moved up to and then slightly above 5000. Distribution seemed to dry up into the last two surges last week. A sign "to me" a top was in or near. The support line broken for the adjusted (new) rising wedge was the same support line from the original... I suspect a struggle, as the BTD mentality continues to be quiet strong. After all, it has been justified for quiet some time. Only time will tell if this leads to something more than a pullback. My positioning will be for capital preservation. All speculation, as always will be done with speculation monies... Frankly, these volatile times are the most profitable and most fun for day trading....but I have to reduce posting and concentrate on the business of day/swing trading to take full advantage! I don't want to miss a buy or sell because I am typing away...<g> Regards, LG