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

To: bobby beara who wrote (82665)	2/27/2002 1:00:36 AM
From: KymarFye	Read Replies (1) \| Respond to of 99985

Check out the action around the 9/10 levels - on all the major indices and on many major stocks (GE especially right now, INTC maybe soon; and check out BA, too). It was bound to be a critical level. Recent action bears that out. I tend to think that if any major index (or more than one or two major outlier stocks) head below it, then the market as a whole is very unlikely to move beyond its post-9/11 highs. I haven't done the math, not even close, but it's also hard for me to see the Dow making new post-9/11 highs if INTC, MSFT, and IBM are circling the drain or doing an imitation - or while we're still waiting for the next big terrorist or Terror War shoe to drop. The Dow leading? The S&P behind, with the techs bringing up the rear? Recovery or not, if that means this is going to be a "value" market - a Wal-Mart market - over the long term, that doesn't sound like anything very recognizably bullish to me. But I'm just an iddy-biddy baby in real market experience... What do you think?