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

To: Casaubon who wrote (7183)	2/28/1999 12:53:00 AM
From: Terry Whitman	Read Replies (3) \| Respond to of 99985

>>The downward price action we have seen so far this month in the markets is a "nontrending" event, since there is no volume confirmation<< A breakout on the OBV can come with small volume, if it is consistently down. OBV data on the indexes is hard to find. Here's a chart of the SPY which should closely model the SP500- iqc.com Though the volume hasn't been heavy, it has been consistently negative over the last couple of weeks, and the OBV is breaking down to territory it hasn't seen in a while. This is a sign that the downtrend should continue. Of course, you are correct that there is no RED ALERT volume sell indications- Just indications that the current trend should continue. If you see the volume increasing on mildly negative days- then start to worry. (Unless you're short)<g> G'nite, TW

To: Casaubon who wrote (7183)	2/28/1999 6:58:00 PM
From: Challo Jeregy	Read Replies (1) \| Respond to of 99985

Casaubon, Look at the volume preceding the market drop in late July, August. Then watch as volume gets larger the further the fall. People are being cautious right now. Not much buying or selling, as they are looking for market direction - just like we all are. When that one thing happens that starts this market down, volume will blow you away. Challo

To: Casaubon who wrote (7183)	2/28/1999 9:46:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 99985

Casuabon, I believe the volume on Friday was very telling on the Nasdaq. The volume on bellweather INTC was BIG as it crossed it's support line. That's a big CLUE. Forget the NYSE the Nasdaq is the driving market and everybody is in techs. This chart may also be a prelude of things to come. cp-tel.net When the Nasdaq breaks support, I believe we will see one of those 1.2 bill share dayz and by that time the herd will know the resolution and get on the board the selling train. On that site, I also have a chart on the NYSE, the failed buy spike on the NYSE, with sentiment still in the 50+% bullish range is ominous. There has been no washout in breadth or sentiment during this correction from the super bullish top in the first week of January. The only resolution can be down, there is no base here for a move to new highs, isn't three failures in the SPX enough to make us go down for some scrounging around in the depths, or do we give the SPX a couple more trys because we are nice bears -g- Add in beacoup stock splits, broker pumps and dumps, you got CHAOS about to break this calm little trading range. beara