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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

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Nov 14 4:00 PM EST

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To: Cymeed who wrote (6836)	2/22/1999 3:27:00 PM
From: donald sew	Read Replies (2) of 99985

Cymeed, What you call near term of 2-6 weeks is my mid-term. Until the DOW breaks 8650 on much improve market internals especially NEW HIGHs/LOWs, I remain bearish. Earlier I mentioned that the short-term techs on the DOW were a borderline CLASS 2 SELL when the DOW was up 100, now that it is up 200 it has morphed into a borderline CLASS 1 SELL signal. The window for a short-term reversal to start is still from today to WED's highs. In fact the opposite happens, the higher the market goes without significant improvement in the market internals, the more bearish I get. Its the rubberband mentality of mine. That is not to say the narrow market wont go up more. I close all of my long positons or hedged them when the DOW was at 9600 in JAN, and not surprising the DOW is only 50 points from 9600 and none of the stocks I closed are even half way back to the levels I closed them at. Seeya

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