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

To: bearshark who wrote (35895)	12/23/1999 2:00:00 PM
From: James Strauss	Read Replies (1) \| Respond to of 99985

Market Theories... ******************** With the market indices hitting New Highs while the NYSE continues to show the New Lows overpowering the New Highs by a good margin, it got me to thinking about the possibility of end of year tax selling exaggerating the New Lows numbers... With that belief, I've been fully invested in the technology sector and overseas markets... Following the money momentum is the current winning strategy... Jim

To: bearshark who wrote (35895)	12/23/1999 2:17:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

bearshark, the cycle work i am following suggests that the Dow could see a level of 15,000 next year. there is always the possibility of the cycle inverting, and some wave counts give a maximum Dow target of 11,900 approximately. nevertheless, if the money rotates into the cyclicals as you suggest, and the liquidity tap remains open (as it will) the Dow might do a melt-up similar to what we have seen in the NAZ lately. it all hinges of course on confidence remaining unperturbed, i.e. Y2K must really be a non-event, and the bond and the dollar should refrain from collapsing. if so, the rotation is a given imo. i also interpret the recent consolidation on the NYA chart as bullish, the only thing that's a bit disconcerting is that bullish sentiment is very high. that would suggest we are in need of a correction before the rotation can truly begin. regards, hb