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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 691.72

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Jan 16 4:00 PM EST

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To: pater tenebrarum who wrote (23799)	8/25/1999 4:39:00 PM
From: Robert Rose	Read Replies (2) of 99985

<this is the most powerful market coupled with the weakest internals i can remember...the money concentrates in fewer and fewer issues. nevertheless the trend is clearly up.> Yes, the market is overvalued, but by most measures the US economy remains very sound. Perhaps money is flowing into those sectors powering this strong economy higher, against the backdrop of general market overvaluation. That sector of course is technology, specifically the net and inet subsectors.

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