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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 652.56

-1.5%

Nov 20 4:00 PM EST

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To: Iris Shih who wrote (18335)	11/8/1998 6:34:00 PM
From: Clint E.	Read Replies (3) of 68160

Hello Iris. I just get to the point since I am pressed for time. Monday should be another up day but Tuesday would be a down day, in form a a mild pullback. The DOW is weaker than the NAZ as it is bumping against 9000. There is no bad news out there yet to disturb this uptrend except the fear of 9000 and the expectation of pullback after weeks of strong gains. I expect the DOW not to get thru 9000 (on closing basis) on the 1st try and sell off to 8800-8850. The NAZ should drop back to ~1845(after testing 1870-1880 on Monday) but should snap back and test 1900-1920 before the end of this week. The pullback in the NAZ before DELL's earnings should be an easy no-brainer buy-the-dip kind of opportunity. Clint

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