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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 665.67

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To: fedhead who wrote (18147)	10/23/1998 9:21:00 PM
From: Clint E.	Read Replies (1) of 68065

>>>Do you think NAZ will retest its lows sometime this year...? Specifically, you are asking if the NAZ would drop as low as 1357 that it reached on 10/8/98. The answer is No. Not much to worry about with respect(w/r) to earnings since Q4 has historically been an excellent qtr. for the tech stocks. However, that doesn't mean that we are heading back into new highs. We haven't seen the top of our trading range yet. I expect to get there within the next two weeks. It could happen due to weaker-than-expected jobs data, sparking hopes of further cut in Nov followed by disappointment of not getting one on Nov. 17th. I'll let you know whenever I think we have reached the top. Keep on asking anyway, so I won't forget. >> or early next year ? If you mean January, I would think not. Beyond that, I have no idea. Anything could happen. Clint

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