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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 693.77-0.2%Jan 13 4:00 PM EST

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To: John T. who wrote (34560)12/2/1999 12:12:00 PM
From: pater tenebrarum  Read Replies (1) of 99985
 
John, down vol. on the NYSE slightly exceeds up vol. at this time, while the a/d is about even...that explains the TRIN.

signs of distribution have imo prevailed throughout this latest rally phase off the October bottom.

today's rally is a day early...everybody knows the jobs data regularly produce wild rallies, so why not tomorrow as well?
also the bond seems to be stabilizing here. if it gets unexpectedly dumped on the jobs data, yields will pass through the middle tine of the fork someone posted earlier, and that wouldn't be good.

otoh, yields are still within the big rising wedge LG has pointed out repeatedly...perhaps Y2K will give rise to a big bond rally.

regards,

hb
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