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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.56

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4:00 PM EST

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To: Chris who wrote (1497)	12/12/1998 11:28:00 AM
From: donald sew	Read Replies (5) of 99985

Chris, Always nice to hear from ya. >>>>>>> nasdaq support at 2000, but momentum topping....... what i feel is that we are in a rolling correction... djia -> spx -> naz.<<<< The DOW has already started pulling back, and the recent pullback has been stronger than I originally expected. It was faster, the volume was larger, and is lasting longer than expected. Of the last 13 trading days only 5 days were up, and of those 5 up-days, 3 of them were basicly insignificant gains(less than 25 points). The SPX, for the last 2 weeks did better than the DOW, but it did form a double top last week. Some more decline is required to confirm that double-top, but so far its a good call. The NAZ in the meantime set new highs, but the pullback in the SOX a few days ago may be giving the hint that it may also be topping out. So, can we conclude that once the NAZ gives way - the market may go down in unison and harder? Seeya

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