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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

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Nov 28 4:00 PM EST

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To: Benkea who wrote (24047)	8/28/1999 8:45:00 AM
From: donald sew	Read Replies (1) of 99985

Benkea, Thanks for that "MEAT GRINDER MARKET" article. Until THUR, I was slightly more bullish in that I felt a few sectors would continue to set new highs like the DOW/SOX/XCI, but when the response to my CLASS 1 SELL SIGNAL was so timely and strong I then got the hint that the short-term bullishness in the market may be weakening more than I had originally expected. I am more inclined to stick with a trading range senerio also for SEPT, than a crash or significant new highs. In that article he mentions 2 KEY points for more bearishness: McClellan Osc below -50 and rates above 6.00%. In light of the financial disturbance in South America, which image is growing increasing more negative, there is the possibility that the rates may not get over 6.00% if we get another flight to safety senerio. I would also like to add that I am more concerned about the U.S.Dollar than I am interest rates at this time. I feel a break of 100 to the downside in the U.S.DOLLAR index would be a strong negative for the market. seeya

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