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

To: Fun-da-Mental#1 who wrote (23798)	8/25/1999 3:35:00 PM
From: Les H	Respond to of 99985

They were also getting hit by the very low introductory rates. They mentioned that the intros were now 2.9 %, down from 5.9 %. They came out with mass downgrades on retails, banks, and brokerages. The market appears to be betting on tomorrow's GDP report being weaker than expected and the next Fed meeting too soon (barely 5 weeks) for another rate hike. Looks like SPX will run up to 1420 and close all gaps as per Ord of two weeks ago. The OTC Prime (OTX) and MS Multinational (NFT) indexes are on the verge of new alltime highs. NDX is within 1 percent. The concentrated indexes are leading the market thanks to GE, internet stocks, drug stocks, and consumer stocks.