MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.31

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Nov 12 4:00 PM EST

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To: Les H who wrote (41339)	2/26/2000 1:13:00 AM
From: Michael Watkins	Read Replies (2) of 99985

Les, Considering that the SPX and OEX are lagging the DJIA in completing the three peaks and dome, it would appear that DJIA is going to overshoot the dome on the downside and the Nasdaq to kick in to the downside on short notice. That's pretty much what I've been expecting too. I haven't done the math on the component stocks, but suspect the only reason they are lagging is due to support from the tech stock components in the indicies. Looking at the NYA, it seems pretty obvious where this is all headed.

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