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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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To: the options strategist who wrote (19697)	7/8/1999 4:00:00 PM
From: donald sew	Read Replies (2) of 99985

JJ, >>> so does this mean we are now in a buy alert? Forgive me for being somewhat confused.<<< Per my index updates I had mentioned that the response to this CLASS SELL signal was late which implies that this specific short-term pullback should be small. So basicly, the market can reverse up at anytime, and I doubt that I will get a CLASS BUY signal before it reverses up. Therefore I need to revert to more conventional TA and I see a support area for the OEX in the 705-695 range, and suspecting that it should reverse to the upside if it was to get that low. Of course with all this momentum it could also reverse upwards at anytime. Heres another factor I am considering and that is sector rotation, which is somewhat obvious today with the DOW being down and the NAZ up and the SPX being flat. seeya

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