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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 695.56

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Jan 28 4:00 PM EST

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To: double-plus-good who wrote (51167)	5/18/2000 2:26:00 PM
From: HairBall	Read Replies (1) of 99985

double-plus-good: I would have to take a more than cursory look at the issues you mentioned before giving my take. I don't have time right now. However, I would suggest you keep an eye on the IXF.X (NASDAQ Financial 100 Index). It is in a downtrend technically since April 98. However, the top was re-tested in May 99. Since the index has resumed its downtrend. It is now testing a shorter-term falling resistance line from the Nov 99 high connected to the April 00 high and extended down and right. If the resistance line holds your FA could prove correct. If it gives way, obviously the index could be heading higher, at least short-term. An index to keep an eye on! Note: The COMPX and NYA look to be mounting at least an intraday rally! CSCO and INTC seem to be rallying off support. See the charts I posted earlier today. However, INTC is now up against a falling resistance line depicted on the chart I posted earlier as well. Regards, LG

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