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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

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Nov 10 4:00 PM EST

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To: StockOperator who wrote (16219)	6/6/1999 9:15:00 PM
From: Robert Rose	Read Replies (1) of 99985

SO <That is why I believe the markets will start to rise attacking these resistance levels and position themselves for a breakdown or breakout once the direction of interest rates is decided by the FED. > This makes perfect sense to me. But don't you think 25 bps are already factored into the market? As I tend to think in terms of the inet sector I will use that as an example. The DOT rises back toward its alltime high between now and June 29, the rate of the rise depending one good/bad economic data reports such as the PPI and CPI. If the Fed raises the rate 50 bps (highly doubtful), the DOT breaks down going into the earnings season. If the Feds raise 25 bps, the DOT rises to test its high, and breaks out to the upside if inet bellwethers blow away earnings estimates. If the Feds maintain rates, the DOT powers to even higher highs, following a pattern more consistent with periods in which interest rates are not an immediate concern. Comments?

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