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

To: JRI who wrote (65036)	12/23/2000 2:13:35 AM
From: John Madarasz	Read Replies (1) \| Respond to of 99985

Anyone think that today resembles the day after Thanksgiving (relief rally near holiday after several down days)...or could we going to 2900? I think this rally is good for another 150 points or so on the COMPX before breakdown again, just like the last 50% retrace BEAR market rally which failed at double top gap resistance around 3028... It's quite clear another lower volume, short covering, feel good Friday Rally was provided to ensure hope through the long weekend... I think it will fail half way between 2500 and 3000 next week, at the top of the next gap at 2750 if it gets there. The 27th of Dec. is a big cycle turn date... just ask any shoe shine guy<ggg> In the FOUR WEEKS since the lame Thanksgiving rally in the COMPX 8 ! of the last 20 sessions closed lower on higher volume than the previous session... signaling distribution... and the distinct possibility of another market down turn. Seven of those sessions were at higher levels than todays close. Look at the six weeks prior to 11/13/00...same stenario<g> same bat indicators...same bat distribution... stockcharts.com[L,A]DACLYIMY[DB][PD20,2][VC60][ILI14,3!LC10!UA8,17,9!UB14!LH14,3!LG] PROCEED WITH CAUTION... The people on the other side of the trade want your money. Volatility is notoriously high and erratic during holiday times when institutions are not fully involved in the market. Thanks to all the great folks who contribute here, I've learned so much over the last 12 months. Peace to All, John Madarasz Message 15072059