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

To: Tai Jin who wrote (19021)	7/1/1999 1:30:00 AM
From: donald sew	Read Replies (1) \| Respond to of 99985

Tai, >>> The Naz weekly chart shows a MACD and STOCH divergence. I take that to mean that this will be a top and it could be THE blowoff top. <<< As mentioned in my previous updates, I think it could go much higher first. Im watching the market internals, and of course they improved today but one day does not make a market. If the market internals do not continue to improve then I will hold my position that this rally to new highs will not hold. The NEW HIGHs would need to get back to the 200-400 range consistently for this rally to hold. Now the question is how much higher. I think this rally could last till AUG and approach the 12,000 range or even higher on the DOW. I am still expecting a small dip within 2-3 days, for another opportunity to initiate longs. If I am correct, these new highs will not be market wide and certain sectors will be lagging, and maybe even correcting as some sectors are hitting new highs. seeya