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

To: KymarFye who wrote (82682)	3/1/2002 10:46:29 PM
From: bobby beara	Read Replies (2) \| Respond to of 99985

ho ho ho, is the rally of today a bull whet dream or the beginning of another leg up off the sept lows (at least for the nasdaq, the dow got an early start) rydex ratios and p/c ratios both hit the sept lows in the last few days (p/c 21 day ma only a couple of ticks from the sept lows.) stockcharts.com[w,a]daclyyay[dc][pb21!b5!a.86!b10][vc60][iUb14]&pref=G anecdotally this permanent optimist has been making posts like this lately. Message 17125331 The naz mclellan oscillator broke into positive territory today turning the summation index up, the summation hasn't crossed the 20 ema confirming an IT buy signal, would need more positive breadth upside days to confirm a breakout, but the strong break above the zero line is shot across the bow of the bad ship bearklown. stockcharts.com[w,a]daclyyay[de][pc20][vc60][iUb14!La12,26,9]&pref=G the nyse mc oscillator broke out several sessions ago, it did much sooner off the sept bottom also. stockcharts.com[w,a]dacayyay[de][pc20][vc60][iUb14!La12,26,9]&pref=G the ndx bpndx has not visited the deeply oversold levels below 20 that we have seen during the bear market, but then again since sept 00 the rallies have been cycle left hand translating, only a few weeks, this last rally was right hand translating lasting 3 months. the spx, oex made breakouts of st declining tops lines today as did bond rates, the nas is the laggard, and needs to break the 20dma next week to turn us up, we had a morning star pattern of some extremely bearish sentiment a week ago thursday, then a retest of morning star this week stockcharts.com because you have to have a sherlock holmes spyglass lately to find a bull on SI lately, i think the probability of the rally to continue quite high, though we need a few more sets of higher highs and higher lows in nasdaq to complement the senior averages to turn things up.