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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: donald sew who wrote (6048)	2/11/1999 7:42:00 AM
From: NickSE	Read Replies (1) of 99985

Donald, I keep a running chart of new highs v. new lows and it shows how narrow the breadth has been during the entire runup. There are a lot of issues out there in a stealth bear and no one would see it by looking at the averages. -ng- NYSE members.home.net Nasdaq members.home.net As for the immediate future, I feel the key to watch is the market internals, especially the NEW HIGHs/LOWs. If the NEW LOWs start getting above 100 consistently, thats a real sign of trouble. On the other hand if the NEW HIGHs were to get back above 100 consistently that would be a good sign that the BULL is back in force, unfortunately I dont see that happening, since in the runup from the OCT LOWs the new higs were not able to stay above 100 for more than a few days. If it couldnt do it during a 2000+ plus rally, it dont look good now. If the NEW HIGHs/LOWs, just stay in the current range I feel that the market will just continue what its doing, and that is basicly range-trade. Later, Nick

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