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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

4:00 PM EST

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To: Les H who wrote (21635)	7/31/1999 7:34:00 AM
From: HairBall	Read Replies (1) of 99985

Les Horowitz: I saw that interview and she said that bonds where a buy at these levels. I tend to agree, with her. I think Greenspan will raise rates again and rates "may" spike up or not. However, I think the Long Bond has already compensated for this move. Once the news is behind us, we may well see the Long Bond rally and rates decline quite a bit. The TYX chart is in a rising wedge (which I have been pointing out for months) portends a eventual significant retrace. And rates are up against the upper rising trend line of that formation as of today's close, as expected. Now I am trying to figure out how the divergences in the primary Indexes in relation to the TYX can be accommodated, more work to do this weekend, before I speak! <g> However, I suspect a de-coupling!!! Regards, LG

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