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


To: HairBall who wrote (48503)4/28/2000 10:33:00 AM
From: James Strauss  Read Replies (1) | Respond to of 99985
 
Positive Chart, Negative ECI News = Good News...
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Per my work, I am going to be surprised if this AM's move turns out to be anything more than a head fake!

LG:

I'm a little skeptical like you are, but I've learned not to argue with chart trends, especially when they run contra to news... : >

Right now the 60 minute chart shows a positive directional bias... Note the 5 period MA is above the 13 period MA... Momentum and MACD are positive...
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If we have a strong volume day to the upside, it will hint at more money coming off the sidelines...

Jim