Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: zoya who wrote (3995)	1/15/1999 12:54:00 AM
From: brian z	Read Replies (1) \| Respond to of 99985

The market has swung from overbought to oversold in a very short period of time. The Dow is now down 522 points in last five trading days. Both the Dow and the Nasdaq have corrected about 5%. Just as the sharp run up last week was begging for a dip, this sharp dip is now begging for a rally. The big drop today was on the lightest Dow volume in over a week. This was also the third triple digit loss in a row. I can't see a strong move upward Friday because of Brazil and the holiday although the option expiration normally provides an upwards bias. But I can see a strong Tuesday coming as long as Brazil does not meltdown over the weekend. Earnings will be on us next week with MSFT, LU, SUNW.... I think the focus on Brazil will have dimmed and the anticipation of upside surprises will take center stage. I am looking for a strong rally next week.