MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

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Nov 26 4:00 PM EST

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To: pater tenebrarum who wrote (18804)	6/29/1999 4:39:00 PM
From: Stephen	Read Replies (1) of 99985

hb, I closed my trading longs also. I was expecting a rally on the news ... but we've had the run-up prior to the news .... so as CNBC have been saying, there may well be a sell on the news - especially as I expect the tightening bias to remain in place. Qtr-end window dressing is a positive, but the Nasdaq is getting too close to its previous high which should prove significant resistance and with the concurrent overbought situation, I would expect a good sell-off. I would not rule out sector rotation out of tech into ....what ?? ... anyone want to put forward suggestions ??. Regards Stephen

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