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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

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4:00 PM EST

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To: Gersh Avery who wrote (6913)	2/23/1999 10:43:00 AM
From: donald sew	Read Replies (3) of 99985

INDEX UPDATE ======================================= As previously mentioned the DOW/OEX/SPX are CLASS SELLs(CLASS 1 & 2), but the NAZ is still in the midrange. I also checked the foreign markets and all of them are near the short-term overbought region and some approaching CLASS SELL status. They should reach CLASS SELL in 1-2 days if they continue up. The window to initiate PUTs per my short-term technicals was from yesterday to WED's highs as I mentioned previously. I believe that there is still a chance that the market can move up a bit more tomorrow since the short-term technicals on the NAZ are only in the midrange per yesterdays close. I already initiate another small PUT position at the open today on a few stocks which have hit their extremes already. If the market continues up I will add more PUTs to stocks hitting their extremes(CLASS SELL status). Seeya

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