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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: StockOperator who wrote (12162)4/28/1999 1:12:00 AM
From: Compadre  Read Replies (3) of 99985
 
SO: The DJIA went to new highs on increasing volume. On the surface it look good. But in looking at the OEX and the SPX, they did not participate, and there were signs of distribution. The NAZ was also losing it on increasing volume again, and I have lost count how many times it has done this recently. Even the RUT looked tired as it made a new high for this year. As for the Tech sector, I can't see how they are going to make new records without the participation of the SOX (down 4 days in a row). You are right, there are just too many divergencies around and one could get a big headache trying to digest this. Best thing is to take it one day at a time.

Regards,

Jaime
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