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Strategies & Market Trends : Tech Stock Options

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To: Nemer who wrote (47051)	6/29/1998 5:02:00 PM
From: donald sew	Read Replies (3) of 58727

INDEX UPDATE ----------------------- On the surface we had a strong day with the DOW up over 100 points intraday but giving back 1/2 by the close. Volume was not strong, the ADVANCE/DECLINE for the NAZ was only slightly positive, and the NEW HIGH/NEW LOWS were still showing weakness. If the market internals do not show good improvement immediately (next 1-3 days) then feel that we are very close to the top of this specific short-term upswing. The next strong resistance line for the DOW is at 9075 and we got close to it today. Noticed a short-term pattern and that is that if the market internals are weak there is a pullback off of the intraday highs. I started noticing that since last Thursday so it has happened 3 days in a row so far. Seeya

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