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

To: sandeep who wrote (64709)	12/19/2000 10:39:42 PM
From: Gary Burton	Respond to of 99985

Sandeep-re MSFT- there is a potential stop and reverse up area at anywhere in the 41-44 level---but, there is as yet no positive divergence on the various oscillators so any little bounce from that area may well fail and we may then head into the 30's -so too risky as I see it....re mkt--2440 is the minimum print near the open that it must get to to suggest the current wave down is extending, with 2300ish etc subsequently in sight--The market could just as easily hold near 2500 and then blip up 50pts or so and then selloff one last time into high 2400's and hold. The key will be as follows--If we open up say 30 pts,and then dip under 2500 and THEN rally ABOVE the top of the initial blip up, then the entire decline may be over. If,however, we open down a few pts and then rally say 30pts and THEN drop below 2440, then we are 'extending' lower and the lower targets become operable.