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

To: Crimson Ghost who wrote (47929)	4/24/2000 8:32:00 PM
From: Benkea	Read Replies (2) \| Respond to of 99985

George: "The good relative strength of the financials and the dollar tells me that the bear market probably will be limited to NAZ for the time being. New highs on the Dow look very probable before that index tanks in a big way." Not so fast. securitytrader.com

To: Crimson Ghost who wrote (47929)	4/24/2000 8:38:00 PM
From: Les H	Respond to of 99985

NYSE Financials approaching resistance quote.yahoo.com^NFA&d=2ym

To: Crimson Ghost who wrote (47929)	4/24/2000 8:50:00 PM
From: bobby beara	Read Replies (3) \| Respond to of 99985

George, the financial indexes since the 98 top have been a train wreck, gyrating faster than my pammy's behind, between bear market troughs and double tops or downtrending tops. Look at the BKX, and expanding fan from the 1999 double top, with declining tops and bottoms, somehow i dontz see this as a bottoming pattern, it just isn't kind to the eye -g- I believe that we are still in the pattern of arbitrage between the "old" and "new" economy stocks, but there will be a final cathartic flush where they all meet at the bottom. thats one reason i'm watching Mr. B's chart, he is mr. financial and mr. "old eco", and i don't like the mohawk he's wearin. b

To: Crimson Ghost who wrote (47929)	4/24/2000 9:31:00 PM
From: Michael Watkins	Respond to of 99985

George, Since I see others have pointed out that the BKX/BIX is rallying to resistance (and also we note that the test of top is still "failed") - I'll just add the NYSE internals chart: intelligentspeculator.com The NYSE internals are starting to falter, most notably the rally has been on decreasing volume and the volume is not heavily weighted to decreasing volume. I think Tuesday needs to be a very strong day, else its likely to reverse. If I were shorting this I'd be waiting for a break of Monday's low. intelligentspeculator.com The Nasdaq continues to demonstrate weakness on all counts. Anything could happen, perhaps that market will churn for a while as it digests the gap. Or in the absence of a MSFT-like catalyst, I could see it rallying (which undoubtedly would be met with cries of relief... "the correction is over..." - but not from me! One day at a time here... Cheers Michael