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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (3826)	7/14/2000 4:16:56 PM
From: LaVerne E. Olney	Read Replies (1) \| Respond to of 19219

I don't see anything that's going to precipitate a large drop in the near-term. I expect there will be a dip next week to consolidate this week's large gains, and I think sector rotation will continue, keeping the indexes in a trading range. I would think there are going to be some earnings shortfalls from some of the large companies who, in the past, have relied on investment gains. But these same large companies are probably smart enough to have a capacious "cookie jar" for such eventualities. The market internals have improved and I think we will see an upward trend before this "last" rate increase, like 1994-5. The COT is an enigma. There is not enough long-term data to verify its reliability. The large speculators are beginning to increase their long positions. I keep thinking the commercials are using these short positions to hedge their (large) market long positions. leo