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

To: Bruce Brown who wrote (76319)	5/1/2001 5:16:20 PM
From: Robert New	Respond to of 99985

Last weeks pullback was on very light volume and painted a perfect backdrop for a continued advance this week. The volume trends on the Nasdaq today sums up sentiment on the index. Over the first 4.5 hours we were down about 10 points on very light volume. The volume surged the last two hours and prices followed suit. The sellers look exhausted to me and thats when the buying took over. The A/D line is suggesting a very broad advance on both indexes. Looking for a run to the 2300-2500 area before we pullback. The 2202 level should provide some resistance but if we can get through that level look for a good run to the 2300-2500 area. Watch the volume closely...that will hold the key. Also like the fact that MSFT broke the $70 level and we are seeing breakouts on some techs. NVDA looked solid today. Many stocks like IWOV have broken their downtrends and should do well in this advance...