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

To: Les H who wrote (55229)	6/25/2000 1:43:00 PM
From: Les H	Respond to of 99985

Market Comment After Close June 22 optionstrategist.com All of the broad-based, equity-only put-call ratios are bullish. They include the equity-only ratio, the breakdown of the equity-only into NYSE and NASDAQ stocks, and the weighted equity-only ratio. All on buy signals, and they are still relatively high on their charts, so that there should be more room for the market to rise. Other indicators are not so sanguine, however. The S&P 500 futures option put-call ratio has now rolled over to a sell signal. The weighted $OEX put-call ratio (which is the one we prefer, instead of the "normal" $OEX ratio) is getting very overbought, although it hasn't given a sell signal. The most serious of the negative indicators, however, is our oscillator. It has given two sell signals recently. While we prefer to use the equity-only ratios as our main guide and thus we remain bullish the presence of these other less positive signals indicates that one should use fairly tight stops on long positions.