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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 689.51

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Jan 8 4:00 PM EST

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To: Steve Yuan who wrote (18830)	12/13/1998 10:15:00 PM
From: Clint E.	Read Replies (1) of 69592

Hi Steve. >>>I am wondering whether we will get a year end rally or a year end crash. Late in Nov., I was surprised to hear many expecting new highs and further rally in Jan. when all indices were already at or near highs and had advanced 10000s of points. I never understood how there could be any further upside with earnings worries ahead so I never subscribed to that notion. People are just waking up to that reality. It has been somewhat frustrating to see the market become so near-sighted at times, mostly because too many people read the same articles and listen to the same people in the media. What happened to the scenario of strong inflows in Jan? There was a net outflow of $3.3B from stock mutual funds last week. Instead, Money-market funds took in ~$12 billion. Check the AMG site. I think it is important to understand my Reply #18813. Since early November that INTC blessed us, excluding the big five (msft,intc,wcom,csco,orcl), NAZ is up only 60 points. The DOW is back where it was. Presently, only a few stocks carry all the load and therefore are manipulated the most on daily basis regardless of MF. Anyway, a bit of reality check & time-out is healthy at this point. I can just hear the media picking up on that now. Clint

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