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

To: eichler who wrote (78633)	6/14/2001 10:28:00 AM
From: t2	Respond to of 99985

But, as you don't use charts, how would you "see" the downside from here anyway? Interesting comment to A.S. Sometimes you can feel the downside; a sentiment reading. That is how I got cautious yesterday. The way the market did not follow through with the rebound yesterday after the reversal of Wednesday was a bad sign. Still see 2000 the biggest psychological level of support. To me it just seems like an environment to sit out and wait for direction. With Greenspan on the horizon, I don't see a breach of 2000...of course if a lot of people don't expect it, it can happen.<g> Trying to make sense of why would a chart give one the correct direction when everyone else follows the charts as well. It seems that traders' market means charts will rule the day. Only if something changes big in fundamentals or fund flows will they mislead you. I have come to that conclusion. I had felt the end of March was the big change in fund flows...redemption from tech funds. It appears that it is not on a large scale yet. It appears it is still a traders' market. good luck traders. BTW--of course I will monitor this thread for technical opinions on when there is likely to be a bounce on the Naz. I would think the "Greenspan put" might be kicking in if it drops below 2050. The chances of an intermeeting cut, increases... I base that on the FED meeting minutes of April when the almost cut just a week or two before the meeting itself.(from what I recall..maybe someone can correct me if I am wrong on that)