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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

+1.6%

Nov 10 4:00 PM EST

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To: bobby beara who wrote (39171)	2/4/2000 4:05:00 PM
From: Jacob Snyder	Read Replies (4) of 99985

NDX reversal day? set a new high, then close near the low of the day. It would be clearer is it would close below yesterday's close. If tomorrow is a down day, then NDX is going to stay within it's range. The range: NDX 3350-3900, QQQ 161-196. I hope so, since I shorted QQQ in small amounts all the way up from 171 in the last few days, and then loaded up when my limit order at 196 cleared. Interesting that the market is NOT saying "this rate hike is the last." That's what the market said after the first 3 hikes, and used as an excuse to continue bidding up YHOO. The latest excuse is, "tech stocks are not interest-rate sensitive". Since they have the highest PEs, and investors are paying for earnings the farthest into the future, I don't buy it.

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