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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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To: Tunica Albuginea who wrote (55138)	6/23/2000 5:54:00 PM
From: UnBelievable	of 99985

Notwithstanding Down Days, MM Still In Control All the moves are still purposeful and controlled. A compliant market ensures no rate action by Fed. The ability to spin earnings news makes me doubt that we will see much more than continued selective attrition and sideways trading pattern during the summer. Weakness in the economy will become more apparent as summer unfolds. Initially this weakness will be perceived as a positive, since it will temper or eliminate the (perceived) need for further action by the FOMC. Unless unanticipated shocks occur, the PPT will keep the bear out of the collective consciousness until the election. The candidates will probably dust off their "Its the Economy, Stupid" playbooks during the final election sprint, as "optimism begins to turn to questioning". Election rhetoric should be enough to forestall gloom. After the election most people will begin to feel the chill winds of the winter of our discontent. Those who continue to be in denial will be in danger of frostbite or even risk being frozen.

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