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

To: Les H who wrote (69021)	2/12/2001 6:00:48 PM
From: High-Tech East	Read Replies (1) \| Respond to of 99985

Les ... once again, thank you very much for the excellent selection of articles that you post here ... Most of the other articles that I read on-line are by subscription only ... specifically The Economist, The Contrary Investor and Business Week ... They are very helpful to me in making fundamental macro calls in terms of my broader overall investment strategy. A free site that is superb and that I read every Monday through Friday is the Morgan Stanley Dean Witter articles written by their economists ... here is the URL (with today's comments) ... msdw.com Thanks again, I appreciate your efforts. Ken Wilson

To: Les H who wrote (69021)	2/12/2001 8:03:02 PM
From: Les H	Respond to of 99985

WHAT TO EXPECT NOW. February 12, 2001. Ord Oracle. Looking at an intraday 15-minute chart on the March S&P, it appears an "Up-sloping Wedge Pattern" has formed. This pattern has a minimum downside target form where it began. The current pattern began at Friday's low at the 1315 level. It can go further, Friday's low is the minimum target. On today's rally, the uptick reading reached plus 803 and is a bearish sign. The "5 day ARMS" closed today at 5.89, which is on the bullish side of neutral. We will look for a test of Friday's low (1315) if not a break of Friday's low for the next support area to develop. We are holding short the SPX for the moment. The Nasdaq 100 did break to a new low on less volume today and implies there is less force to the downside. The Nasdaq "5 day ARMS' closed again in bullish territory at 8.63. Today in candlestick charting on the NDX a "Thrusting pattern" formed. The "Thrusting Pattern" is bearish in a declining market and since the market has been going down, this candle remains bearish. There is a reasonable chance the NDX will test the January 3 low near the 2100 level. No new signal on the NDX. We are bullish on gold. Wave "1" up was the October 1999 rally. Wave "2" down may be ending now, instead of the November 2000 low. Wave "3" up can start at any time. marketweb.com