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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.39

+0.5%

Nov 28 4:00 PM EST

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To: Moominoid who wrote (14921)	5/25/1999 8:09:00 PM
From: Haim R. Branisteanu	Read Replies (1) of 99985

David those are my comments from last Saturday on the chicken page. My lower support target is around SPX 1280. bway.net Presently, adjusted support is about the same as a month ago, around SPX 1300 plus minus 20 points and the next corrective support around 1220 which is the January February lows NYSE around 615 plus minus 10 and the next corrective support around 580. Old resistance may be a weak support at SPX around 1315 and NYSE around 624 which will represent DOW around 10,300. The NASDAQ seems to establish an indecision triangle. The Internet mania may come to an end as AMZN and EBAY made the front cover of Business Week, and seems that the avalanche of - "DOT COM" - IPO's went out of hand as liquidity is starting to dry up due to the FED leaning toward tighter money. Bobby Beara also warned of such a possible decline in his charts. I am not sure we will make DOW 10300 in this move but anticipate a possible relief rally BWDIK Haim

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