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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

+0.4%

Nov 19 4:00 PM EST

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To: bobby beara who wrote (28383)	10/4/1999 10:26:00 PM
From: Fun-da-Mental#1	Read Replies (2) of 99985

Today I've been struck by the number of large moves, many stocks up more than 5%, but quite a few down more than 5% also. (See smartmoney.com ) I'm not sure how to interpret this, except that maybe the market in general wants to go up, but many stocks are considered unacceptable and not allowed to join the party. Indicators of market breadth (A/D, NH/NL, %>200DMA) have improved, but only slightly. The Russell 2000 and AMEX went up but lagged the big-cap indexes. Sector rotation continues, with financials and transports bouncing up, and internets and energy falling back. This very fickle sector rotation seems like a lack of commitment - no buy and hold, just trading - indicating some lack of faith in the market. I guess a lot of people made good money today, but still this rally looks weak to me. Fun-da-Mental

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