MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.63

+0.4%

Nov 19 4:00 PM EST

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To: donald sew who wrote (5530)	2/5/1999 6:11:00 PM
From: S. Chiang	Read Replies (1) of 99985

I'm also expecting a rebound early next week. Reasons: 1. A two-day tech sell-off dragged NASD to its lower trend line. It should be ripe for a rebound. 2. Money wasn't leaving the market. Instead, it just rotated to cyclical components. It will come back to the tech leaders soon. 3. OEX and SPX are both under 20-day SMA. They've never stayed under 20-day SMA for more than 3 sessions, since their lows on 10/8. I guess it's time to buy some calls and tech stocks. SC

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