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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: Debra Orlow who wrote (4061)	1/15/1999 2:30:00 PM
From: John Pitera	Read Replies (2) of 99985

Debra, you have been so right, the 9262-9270 area has provided nice resistance in the DJIA today. Nas just continues to creep upward. Have you notice how nicely the DJIA has rallied off of its 50 Day MA the last 2 times we have hit it. first on Dec 14-15 and then yesterday and this morning, the 50 Day MA and the very oversold condition on the 5 DAy RSI pretty much presaged today's rally. I should have gone fishing for at the money Jan calls at yesterday's close for a small play <G> John

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