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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: SJS who wrote (7643)	3/5/1999 11:42:00 PM
From: Daniel Joo	Read Replies (1) of 99985

Asking for feedback. I noticed the following: volume on the NYSE and especially the NASDAQ was average to below average and today the volume for the NYSE was about 8% higher than the 50 day average and NASDAQ volume was below the 50 day average. Volume on 3/4 NYSE 775 million NASDAQ 858 million Volume on 3/5 NYSE 834 million NASDAQ 889 million 50 day average volume NYSE 773 million NASDAQ 963 million Also, I'm sure everyone else noticed the spike the first hour of trading for both days. It seems to me like the institutions initiated small buy programs to see if the smaller players would bite. I wish that I had access to hour by hour volume of the major indexes. IMO, if the above scenario holds true, we will see the start of a decline next week as portfolio managers continue to lighten their equity exposure. My current asset allocation is 78% cash / 22 % equities/options.

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