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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 678.85-0.3%4:00 PM EST

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To: Zeev Hed who wrote (3311)1/5/1999 7:40:00 PM
From: jjs_ynot  Read Replies (1) of 99985
 
The A/D was positive and the cumulative A/D just turned positive. The NHNL data indicate that there is a vicious sector rotation occurring.

OPINION: New money flowing into the market is looking for relative value in an overvalued market. As one sector rises from the doldrums; the momentum players bail from yesterday's hot sector and jump into the latest play. This is esp. true with everyone and his brother using computerized mechanical trading systems, neural nets, etc.

BWDIK
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