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

To: Hawaii60 who wrote (5394)	11/30/2000 11:07:21 PM
From: David Lee Smith	Read Replies (1) \| Respond to of 19219

The MomentuMonkey Indicator has changed from NEUTRAL to SELL. The objective for the S&P 500 is 1259, 4.3% lower than today's close of 1314.95. Momentum has changed from POSITIVE to NEGATIVE. Valuation remains NEUTRAL. It looks like we're on the way down. I'll look at the market again mid-day to see if I'm going to buy a position in the Pro-Funds Ultra Bear or remain on the sidelines. It looks like a head and shoulders on the way down. If the market can somehow rally above 1326, the model may again go NEUTRAL and the bulls may have a rally. I probably won't play it. Today I bought Gateway Computer and simultaneously shorted Dell Computer. I thought the spread between the two offers an attractive return. Any thoughts?