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

To: Box-By-The-Riviera™ who wrote (54233)	6/15/2000 1:42:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Joel, technically, resistance points are at 1,92 - 1,78 and 1,61. the first two levels are imo attainable within a few weeks/months. once that happens the situation would need to be re-assessed. re. the cyclicals, i agree...they can be used as a barometer for future economic performance. note however that since the a/d line peak in April '98, the stock market has become extremely narrow in its focus. that's simply due to the total market cap to total money stock ratio being completely out of whack. therefore, valuations of certain stocks may not be reflective of their true value, as there is simply not enough liquidity to go around to bid them up. regards, hb