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To: JRI who wrote (7177)	7/14/2001 8:22:27 PM
From: John Madarasz	Read Replies (3) \| Respond to of 209892

That's great that someone is that definitive on direction. Contrary indicator? Who knows. Rallies back to resistance across the board on lower volume. I've got to go to Allan's camp here regarding indicators. When a weak market is at such a critical juncture in both time and price, and the fundamentals behind the market scream weakness, indicator failure is an increasing possibility. Price, volume, support and resistance, rule the roost here, for me anyway. Notice in particular the lower volume behind the move Friday, and the April and May highs. Each drive up seems to be accompianed by lower volume. This is what I'm hoping for...exhaustion at resistance...on lower volume and lower highs. Same with the NYA, evidence of a lot of distribution over the last 5 weeks, but seems poised to rally. take a few moments and check out the bullish percents on the nyse and otc... nyse stockcharts.com otc stockcharts.com short term bounce territoy...long term, we have a ways to go before any real buy signals for longs

To: JRI who wrote (7177)	7/15/2001 9:56:43 PM
From: Shack	Respond to of 209892

J.T. could be right but I think he overstates the bullishness of the numbers somewhat. If you want to see bullish numbers, check the April 4 bottom, we had a .34 bear/bull asset ratio along with a $1.56 billion money market number. As of Friday we have a .21 bear/bull asset mix with a $1.41 billion money market #. As far as I'm concerned, its moderately bullish. However I am willing to accept that we rally form here to get those bull assets to euphoric levels.