MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 674.96

+0.9%

Nov 25 4:00 PM EST

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To: The Perfect Hedge who wrote (562)	12/6/1998 8:22:00 AM
From: donald sew	Read Replies (3) of 99985

Beeble, My SHORT-TERM READING on the SOX is at 84, which is in the overbought region but still has upside. With so much momentum, the SOX can still zoom up more while in the overbought region. I normally like to see some weakness in the SOX before initiating PUTs, such as a DOUBLE TOP. The problem with that is if the SOX is moving parobolicly, the likelihood is that there will not be a DOUBLE TOP but just a pinnacle into a selling stage. MU right now is a CLASS 2 SELL with a reading of 90, meaning it could still go up more but could turn now also at any time. NVLS, by the way only has a reading of 81. Seeya

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