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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

0.0%

Nov 14 4:00 PM EST

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To: Les H who wrote (6831)	2/22/1999 11:25:00 AM
From: donald sew	Read Replies (1) of 99985

INDEX UPDATE ===================================== With the DOW up 100 points my short-term technicals are right now at a BORDERLINE CLASS 2 SELL SIGNAL with the buy-in at tomorrow's highs. It could also morph into a CLASS 1 SELL SIGNAL by moving significantly higher than todays highs in which case the buy-in would be WED's highs. It could also reverse right from here. So the window of the reversal should be between now and WED's highs. The NAZ & RUT are still only in the lower midrange, meaning that it has more upside. The SPX & OEX just entered the short-term overbought region and have not yet reached the extremes of the CLASS SELL signals. In light of the NAZ and RUT still relatively low per my technicals I am more inclined that a reversal would not start today, but who knows. Seeya

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