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Pastimes : Astrological Influences: Financial and Global Trends -- Ignore unavailable to you. Want to Upgrade?

To: SBerglowe who wrote (283)	9/8/1999 3:44:00 PM
From: Les H	Respond to of 538

The Nasdaq is very overbought. The TRIN has repeatedly stayed in the overbought area for the last 2+ weeks. It will take a good more downside for the momentum to turn negative since the overbought indicators are so high: Wilder RSI, Stochastics, etc. The Dow, S&P 500, and NYSE are all lagging the Nasdaq and are weak. The housing, auto, and retailing stocks hardly bounced on Friday. They're more sensitive to interest rates and consumer lending. I'm expecting at least a short-term downtrend within the recent trading ranges that may last up to 2 weeks or so.