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

To: MonsieurGonzo who wrote (25856)	9/15/1999 3:48:00 AM
From: donald sew	Read Replies (2) \| Respond to of 99985

Steve, The way Im looking at the market is that the majority of the indicies and stocks are not in an uptrend, with the exception of the HiTECH/ENERGY indices/sectors. The majority of the market is either in a trading range or downtrend. So will the narrow rally in the HiTECHs be able to pull the overall market up and back into a firm uptrend that is broadbased - maybe, but for now it looks real negative. I agree with you that the HiTECHs are in an uptrend, so the question is whether the the NON-HiTECHs will pull the HiTECHs down or vice-versa? Right now and for the short-term, Im more inclined that the negativity in the NON HiTECHs is greater than the positives in the HiTECHs. Again I am not talking about the BK, just a sizeable pullback. Even if the CPI is good, I dont the think the ensuing rally will have legs. If the CPI is good and the market rallys, most of the HiTECHs will become short-term(1-5 days) CLASS 1 SELLs in 1-2 days. So if the CPI is good, I see the short-term top near THUR, but if the CPI is bad then they will not get to the CLASS 1 levels and should start selling off tomorrow. I am still sticking to my TRADING RANGE TREND, with only a few sectors setting new highs. seeya