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

To: el paradisio who wrote (61630)	10/31/2000 11:35:24 AM
From: KymarFye	Read Replies (1) \| Respond to of 99985

Don't see where you get 3340 as an importance resistance level for the Nasdaq, unless you're going back to the April 24 low of 3345. Looks to me like today's action has already penetrated much more critical resistance level of 3314 (10/6 and 10/18 lows), if not yet convincingly. Recent back and forth within the Gap may soon be over: Close above 3314 should set re-test of 3400 (if late afternoon rally doesn't already get there), then of the "cleavage" low of 3521 (low-point of Summer rally, also where the first snapback rally failed three sessions in a row 10/20 through 10/23-4).

To: el paradisio who wrote (61630)	10/31/2000 11:53:23 AM
From: Les H	Read Replies (1) \| Respond to of 99985

Per the 10-week and 20-week cycles, the next minor cycle top is the end of this week marking the leftmost one-third of the 10-week cycle. A pullback then a rally into end of November 27 for the 6-month top. The 10-week cycle turns bearish after November 27 till it bottoms in mid-December; the 20-week cycle after mid-January. I think the Nasdaq resistance is back at the reaction high of 3530. With the rally today, my database is inching toward 70% sell signals (yellow flag) and hopefully, 80% (red flag) by end of week with more rally.