MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 695.49

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Jan 27 4:00 PM EST

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To: Robert Rose who wrote (19514)	7/6/1999 9:24:00 PM
From: HairBall	Read Replies (1) of 99985

Robert Rose: A follow up to my previous response. I think it is more likely that resistance will be in the 11600-11800 range on the Dow 30. If those numbers are taken out, I will re-asses. However, this rally most likely will be a pure sentiment (momentum) driven rally. It should be important to watch major indicator stocks such as GE and MSFT for hints of a reversal. I do expect a retrace and as long as my expected support areas hold this rally is still alive. Playing the long side should be done with "stop loss points" which are converted to "trailing stop loss points". This Market should become more volatile as the top nears. Swings should become more extreme. Regards, LG

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