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

To: HairBall who wrote (43691)	3/20/2000 11:18:00 PM
From: Lee Lichterman III	Respond to of 99985

Are you reading your NYSE chart as a bull flag and bounce off 625 (oct 98 SRL) or as a break down of the second leg? I have a total break down in tech if NASDAQ 4510 is broken and stays below the line based on my yellow fork at our site but am not sure if the general market will follow or if a rotation will ensue. I am leaning bearish but there are many bullish charts and some techs still look OK mostly the old tech generals despite me being very bearish on the NASDAQ. The over inflated are coming back down hard though with major breaches of support today in the highest flyers. Most DOW stocks took a breather and could try to buffer things but HWP and T pretty much carried today. All the bad news regarding credit card companies has to hit the banks soon. The FOMC wildcard and MU earnings tomorrow are going to make life interesting. I would love to see AG announce a margin requirement change but I agree with those this weekend that pointed out AG always gives the market ample warning before making a move and he has not done so ....yet. Good Luck, Lee