MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

+0.4%

Nov 19 4:00 PM EST

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To: StockOperator who wrote (1562)	12/13/1998 6:22:00 PM
From: brian z	Read Replies (1) of 99985

Did you notice that NASDAQ is up mostly due to blue chips like MSFT, INCT,CSCO...... As long as those blue chips are attracting the buying, NASDAQ is going up. Besides, internet stocks will drive NASDAQ up too. I don't think internet stocks are cooling off now. But breadth was poor in NASDAQ exchange, as 18 stocks fell for every 14 that rose. This suggests that there is weakness underneath the surface and the index remains in an overbought territory.

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