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Strategies & Market Trends : Market Trend Analysis from MomentuMonkey
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To: Stcgg who wrote (72)7/25/2000 6:11:06 PM
From: David Lee Smith   of 281
 
**** Thanks for your excellent Elliot Wave analysis. The MomentuMonkey model concurs. The SELL signal remains intact for the S&P 500 index. It looks like after the market finishes hearing Greenspan's analysis, traders will become paranoid to any inflationary or poor earnings news. The US dollar appears to have topped out. The 10-year treasury trend although up, appears to be trapped in a narrow trading range of 98-99. Interestingly, the resistance at 99 appears to be strong which bodes for higher interest rates on the 10-year. This could be masked by lower interest rates on the 30-year bond. Higher interest rates + a lower dollar + poor earnings = curtains for the general stock market. Look for further concentration in the S&P 500 Index. Is it a misprint, or did the unweighted Value Line Index really fall 12.5% year-to-date through June 30, 2000?
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