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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

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Nov 7 4:00 PM EST

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To: Michael Watkins who wrote (39984)	2/12/2000 1:45:00 PM
From: donald sew	Read Replies (2) of 99985

Micheal >>>> I call the SOX at a top now too. Lets see if it works lower or not now. If it does, I think the NDX will be very challenged, very quickly... <<<< The 3 strongest NASDAQ indices are the SOX, NWX, and BTK. I feel that the BTK is the least important of the 3, since that is the biotech industry which is extremely speculative, and do not think it can hold the NAZ up by itself. The SOX and NWX I think are the keys with the SOX as the main one, so I agree with you. It is interesting to note that the DOT has not been able to set a new high and the IIX squeaked out a new high, while the majority of the momentum is in the SOX, and NWX(CSCO). So the pure INTERNETS are not as hot as many think. Its not cold but again not hot. A break of 900 on the SOX to the downside would be a hint that some sort of a top is in on the SOX. seeya

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