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

To: Les H who wrote (61894)	11/5/2000 5:18:21 PM
From: UnBelievable	Respond to of 99985

I Wonder To What Extent The Optionaires Deadline Selling Will Impact Prices?

To: Les H who wrote (61894)	11/5/2000 8:53:41 PM
From: Les H	Read Replies (1) \| Respond to of 99985

Prince continues to average down sunday-times.co.uk Nortel and Cheeseburgers thestar.com Cycle from October 1998 gettingtechnical.com

To: Les H who wrote (61894)	11/5/2000 11:28:59 PM
From: Techplayer	Respond to of 99985

Bush Exposed by former streaker... worldnetdaily.com

To: Les H who wrote (61894)	11/6/2000 7:54:16 PM
From: Les H	Respond to of 99985

WHAT TO EXPECT NOW. November 6, 2000. Ord. Today the December S&P's traded above the previous high of October 31 on lighter volume. Breaking to new recent highs on lighter volume is a short-term bearish sign. The "Percent Volume" indicator closed today at .54. Readings above .55 are overbought. The "5 day ARMS" closed today at 5.03, which is dead neutral. The volume issue is the key here. If the move up was expected to continue for the short term, the volume should have equaled our exceeded the previous high day volume. That day was October 31 and had volume of 1.35 billions shares. Today's high was above the October 31, but had volume of only 926 million shares. Therefore, according to volume statistics the market is running into resistance. Obviously there is an important election event tomorrow and it appears the first reaction could be down. However, a strong three-day candlestick pattern called a "Advancing White Solders" that appeared on October 27, 30 and 31 predict future strength in the market is forth coming. Therefore, if we don't get a clear signal for a short position, we will look to buy the pull back. The Nasdaq Composite volume is also showing signs of weakens. Today this market did break above Friday's high on lighter volume and than closed below the close drawing a "Bearish Engulfing" pattern in candlestick charting. We were concluding the Nasdaq Composite would make an attempt to test the previous high of October 20 near the 3535 area. Today's high was 3480.01 (pretty close to target). Because of the decrease of volume on the rally over the last couple of days, the 3535 target is not probable for the short term. We sold our long position in the Nasdaq Composite on Friday for about a 2.41% gain. We will remain on the sidelines for the moment.