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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

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Nov 26 4:00 PM EST

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To: Haim R. Branisteanu who wrote (2653)	12/22/1998 7:53:00 PM
From: donald sew	Read Replies (1) of 99985

INDEX UPDATE ========================= From yesterdays highs the DOW and NAZ has pulled back about 130 and 40(200 DOW points) points on a intraday basis, therefore the minimum requirements of the CLASS 1 SELL have been satisfied. Yesterday the NEW HIGHs jumped over 100, but today it reversed significantly with the NEW LOWs exceeding the NEW HIGHs slightly. The advance/decline also showed weakness. In light of the weak market internals, feel that there should still be some more downside, but not alot. I am still holding my position that for the last few days of this year the DOW will ZIG-ZAG within the STAIRSTEP, and basicly going nowhere. This XMAS rally may not have the momentum that many expected. The TRAN, XAL, RUT, BKX recently are still lagging the major indexes which is not a sign of strength, and for the DOW theorists - not a good sign from the TRAN. Seeya

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