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

To: HairBall who wrote (63588)12/3/2000 12:28:15 AM
From: Michael Watkins  Respond to of 99985
 
Just had time to edit my post before it closed off, yes of course I meant complete the move. The back side bounce was pretty typical and so far its playing out as one would expect.

While I don't trade on longer term scenarios, the 'bottom' I've pictured involves

- spx, indu, nya breaking down out of their recent consolidation patterns
-- SPX - intelligentspeculator.com

-- INDU - intelligentspeculator.com

and the NYA we discussed.

- compx doing what it lately does best, moving down
- new lows pick up on NYA
- new lows expand on Nasdaq to 1000+, 1400+ would be interesting.

One day at a time...

Cheers
mw



To: HairBall who wrote (63588)12/3/2000 7:24:25 AM
From: marginmike  Respond to of 99985
 
Looking at MDA CHARTS you posted they all look quite ominous with many stocks and indicies breaking towerds the downside. Very spooky considering all the bottom calling. If one looks at Nikie there were 3-4 V bottoms which retraced almost imidiatly before it headed further down


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