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

To: t2 who wrote (79531)	7/5/2001 9:43:10 PM
From: Zeev Hed	Respond to of 99985

NV, welcome to the "crow eaters" club (g). In any event, the general turnip scenario of a summer massacre, never changed, I just tried to be too cute with an early July rally, which actually happened a week ahead of "schedule". The test will be as you say, the 2000 area (or more importantly the recent low at 1973.). The thing that has changed now relative to to late March early April, is that a large number of stocks are simply priced for perfection. Technically, a big difference is that the VIX and VXN were about twice as high as they are now, and started to turn on the rise. Now we have the VIX and VXN suddenly increasing after lingering here near their lows for some time. Note also that the new highs/new lows has turned negative, and we are still at where we had that gap breakout barely a week ago. That means that we are at the same (and earlier to day higher) prices, but failed to have a strong leadership making new highs.Without an expanding list of new highs, it is difficult to become very bullish Zeev