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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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To: donald sew who wrote (13144)	5/7/1999 12:08:00 PM
From: StockOperator	Read Replies (1) of 99985

Don, There is always something to be said about watching how the markets respond to good or bad news. In light of the overall tensions regarding inflation you would expect the avgs to respond favorably to the data released this morning. So when you consider where we're at currently I would say that the news released SHOULD be positive enough to an cause an upward pressure to the avgs overall. Any failure to do so, imo, should be looked at very seriously. I think you are correct about a possible cap being in place until the meeting on the 18th. However, based on what I am seeing on the charts I do believe we should start seeing an upward trend establish itself right now. So that the markets are positioned to rally hard in the event an unchanged position by the Fed. I still believe that if rates remained unchanged and the FED does not change their bias we will see an explosive move up. Right now I am back to taking it day by day. Regards, SO

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