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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

0.0%

Nov 14 4:00 PM EST

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To: StockJock-e who wrote (33659)	11/18/1999 12:12:00 PM
From: donald sew	Read Replies (1) of 99985

Stock Jock-e, There are many signs that a short-term top was set; however in light of all the buy-the-dip mentality, Im not expecting that we just drop hard, but may even zig-zag for a few days. There is one thing that may promote some quick selling and that is that this is expiration week and there is about a 25 point divergence between the OEX price and the OEX MAX-PAIN which is around 720. Even with the DOW up 150 points, the SPX still has not been able to negate the CLASS 1 SELL signal, at least not yet. On the other hand if the SPX closes today above 1430, that would negate the CLASS 1 SELL signal. Just a reminder a break of a CLASS 1 SELL signal implies a prime environment for a technical breakout and the SPX could rocket. Its interesting to note that, so far, the DOW has made a higher high on a intraday basis when it got to the up-160 range, but the NAZ and SPX have not yet established intraday higher highs. seeya

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