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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 685.66

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Dec 5 4:00 PM EST

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To: Les H who wrote (7316)	3/2/1999 9:25:00 AM
From: donald sew	Read Replies (1) of 99985

INDEX UPDATE ==================================== The TYX(INTEREST RATE) is now at a CLASS 2 SELL status so the upside should be limited and it could start to pullback in a few days, within its trend. The TYX is now in a clear uptrend and on a technical basis it should head higher, but the near-term there could be a small corrective pullback before heading higher. I just turned more bearish and am expecting the stronger downmoves to start within this month. Some are looking for a crash type move, but I am looking at a series of LOWER HIGHs and LOWER LOWs which could be worse than a quick crash move. Subjectively, I just feel there is still too much euphoria in the market right now to have a straight hard down move, so I am expecting that buying will step in at certain levels only to lose to greater selling producing a series of LOWER HIGHs/LOWs. Seeya

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