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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 672.04

-1.7%

Nov 13 4:00 PM EST

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To: bobby beara who wrote (18067)	6/21/1999 5:14:00 PM
From: donald sew	Read Replies (2) of 99985

Bobby, The strongest of the HiTECH indices are: XCI - computers(as you mentioned) CWX - computer software The weakest of the HiTECH indices is the DOT.X It appears that the NAZ and SPX will set new highs, with the DOW lagging. Whether the DOW sets new highs or not, it should be close. It appears for now that the cyclicals/basic materials/drgs may be the laggards in the DOW. Im going long on the dips for short-term trades. This correction is not yet over, but certain sectors will be setting new highs. Some of these sector upswings are going to be quite powerful. Something like last year when the topping process started in APRIL but the DOW/SPX/NAZ not topping out until JULY. I would change my longer term bearish stance if the market internals improve dramatically and is sustained. Untill that happens this upswing in some indices to new highs, and possibly very strong upswings, is just part of the correction process. seeya

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