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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.39

+0.5%

Nov 28 4:00 PM EST

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To: Robert Rose who wrote (31827)	10/29/1999 12:20:00 PM
From: donald sew	Read Replies (2) of 99985

Robert, With the help of LEE, I was actually feeling the bullishness last week. I was suspecting a retest but did not subscribe to the big sell-off. We just need to identify the strong and weak sectors for the forthcoming dip which should be a buying opportunity. Although I have turned intermediate bullish, I will not eliminate that this is just a strong rally within the bigger downtrend. Until the SPX/DOW sets significant new highs with strong market internals this could just be a a BEAR RALLY. My approach right now is to take a averaging perspective of the the 3 major indices, and watch the the market internals which would reflect the other indicies/smaller stocks. The NAZ can continue to set new highs but if the DOW and SPX stays below their all-time highs it could just be a retest of the highs from an averaging positon. Hope that makes sense. The other possibility is a blow-off top which would do alot of damage to many BEARs but would also intensify the downside once/if a blow off top occurs. seeya

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