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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (16266)	6/7/1999 8:37:00 AM
From: donald sew	Read Replies (3) \| Respond to of 99985

Jim, I have a borderline CLASS 1 SELL signal on the NAZ, so it could go up 1 more day with the buy-in at tomorrow's highs. It could also reverse today, the window for a short-term top is today/tomorrow. I have resistance in the 2500-2525 range, and the upper trendline of the BEARISH FLAY at 2525. If it breaks 2525 to the upside, the NAZ will probably head significantly higher. I now have the NAZ futures up 900 and the SPX flat. If the the NAZ is up nicely and the DOW is down or flat then the sector rotation could still be in effect. If sector rotatation continues I believe that the correction is not over. The reason I believe that is that sector rotation to the levels we hve seen is an anomoly/abnormal. A correction when finished should correct those matters which are abnormal. If sector rotation does continue, then the correction did not resolve those matters which were abnormal and could be a hint that the correction is not over. Hope I made some sense. seeya