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

To: bobby beara who wrote (80697)	7/21/2001 11:03:24 PM
From: t2	Read Replies (1) \| Respond to of 99985

this is a retest of the april bottom, which may just be a retest of a trading range, but those who are looking for a crash, are a year late. A retest of the April lows puts us down about 20%. That is a crash.<g> Are you looking for a decline of that much? I was surprised that the market did not drop more on Friday..maybe options expiration. Monday is a big mystery. NYSE short interest went up by 3.7% and Nasdaq numbers should be out by end of week. I don't know if it will matter much in the market direction...it has not before. However, if the market does go down to retest the lows, the high short interest could create a fast spring back in the market.

To: bobby beara who wrote (80697)	7/22/2001 12:45:10 PM
From: TraderXx	Respond to of 99985

Bobby...I'm there with ya. Been trying to say that for awhile now. To say that there hasn't been capitulation is IMO not correct. Look at the naz chart in the past year a half. I don't know, maybe its that they mean a "huge" sell off in one or two days. Seems kinda strange to me anyway. Re: naz chart, what I'm seeing is a bullish pennant forming either way you look at it chartpatterns.com whether daily or weekly chart. I am also seeing relative strength to the point of resistance (sorry, don't know how to post my own charts with trendlines etc). If it breaks through we could have a very good case for the bulls. In any case, we should see an explosive move either way very soon. TraderXx