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

To: pater tenebrarum who wrote (26714)	9/22/1999 7:28:00 PM
From: donald sew	Read Replies (2) \| Respond to of 99985

Challo, As of today's close, the DOW did give a weak CLASS 2 BUY SIGNAL, and of course it could go lower and morph into a CLASS 1 BUY. The SPX is now actually in the LOWER MIDRANGE since is closed slightly positive. The NAZ is in the UPPER MIDRANGE just slightly below the OVERBOUGHT territory per my short-term technicals. On a intraday basis tomorrow, the DOW could give a CLASS 1 BUY SIGNAL if it heads lower. The SPX is 1-2 days from a CLASS SIGNAL. So we are close to a short-term bottom in the DOW and the SPX. In light of the DOW and SPX reversing to the downside without becoming a CLASS SELL, Im more inclined that any rebound to the upside should be weak. However, the rebound could be strong in the NAZ as we still are in the mist of sector rotation. Hope I made some sense. seeya