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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 660.19-0.8%4:00 PM EST

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To: dennis michael patterson who wrote (21201)7/27/1999 4:53:00 PM
From: Les H  Read Replies (1) of 99985
 
The moving average channel is moving sideways at this time. It would indicate an untrended market for the meantime. The lower band for the NDX is at 2209. The 50-day moving average at 2211. The 50% retracement of the June-July advance is around 2205. I had next overhead target at 2328 for the 10-day EMA and 2340 for the 21-day EMA.

There was a big variance between the QQQ and the NDX. It appeared to have traded at almost 1-1 1/2 point premium to the net asset value.

quote.yahoo.com
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