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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.97

+0.1%

Nov 7 4:00 PM EST

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To: Gersh Avery who wrote (8704)	3/22/1999 4:44:00 PM
From: yard_man	Read Replies (1) of 99985

I can't call the market, Gersh -- I just think it is about time for the SOX to selloff in a big way -- maybe in one or two weeks at most. If it is a strong enough selloff it could drag the rest of the Nasdaq down with it. It was looking kind of spent last week and I thought there was a good possibility of a "failed" rally. I noticed that the high last week was looking to just fall short of the 50 dma. Actually, it pierced it for a short time on Friday but closed well below. Look at it on daily and weekly charts.

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