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

To: Stephen M. DeMoss who wrote (68447)	2/3/2001 12:15:17 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 99985

Stephen,m I just edited my last post where I explained this, while the "channel is down, touching the lower band of a Bollinger channel occurs before reversals, and Friday was a reversal day by itself, with a long lower shadow, touching the lower band. As for areas of resistance on the Naz, I have two weak ones at 2575 and 2375 before we retest the lows of January 3rd at 2250. Since these lows are "only" 400 naz points from here, and we did not have a single -1000 reading on the Naz tic so far this year, I fear we may very well breach the January lows, if that happens, my "standard bearer" of 1900 as the low on the Naz comes into play. Zeev