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

To: KymarFye who wrote (82686)	3/2/2002 11:42:58 PM
From: bobby beara	Respond to of 99985

kymer, those are excellent observations and the reaction to orcl news is big as we sit here at the top of the downchannel on nasdaq, did we just rise to resistance again, only to be sent to the bottom of the channel, or will the bulls use the dip as a buying opportunity, my guess is yes, but as always you have to have contingency plans if your guess is wrong a lot of people have been saying the dow is 30 stocks, it's a bull whet dream, the boyz are dragging in the stoopid muny, only to de-flower em. stockcharts.com[w,a]daclyiay[dc][pb10!b21!a1120][vc60][iUb5!La12,26,9]&pref=G the spx made a head and shoulder pattern (i pointed this failing h&s pattern on the dow a few weeks ago) with the october consolidation being the left shoulder and this consolidation being the right shoulder. we made three test of the 1080 area and the bears failed to take the index down, now on friday we rallied on a big white candle above the neckline of the H&S pattern, this indicates to me that the bearish pattern has probably failed, there has been some huge bearish sentiment on the trin, the p/c ratios, and the rydex ratios, and i think as long as the spx doesn't close below 1120 for more than a day the downtrend from the jan high is over and we are in an uptrend.