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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 689.100.0%Jan 23 4:00 PM EST
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To: donald sew who wrote (23956)8/27/1999 11:57:00 AM
From: Robert Graham   of 99985
 
Cooper mentioned two items in his daily market review for today that is worth consideration. One was that yesterday the S&P gave back all of Wednesday's gain. Since Wednesday's relatively heavy volume came on only slightly more advancing than declining issues, it suggests distribution. Another item is that the ability of the S&P's to hold the level above its 50-day EMA (around 1360) will be telling. Also it will also be interesting to see whether the Dow can register a new weekly close above 11,210.

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Bob Graham
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