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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Bart who wrote (36433)	3/9/1998 11:54:00 PM
From: donald sew	Read Replies (1) \| Respond to of 58727

INDEX UPDATE --------------------------- On a technical basis there are quite a few unique situations which normally do not happen. There are many divergences which are greater than normal, which others have also noticed, but here is something that has not happened within the last 2 years. Whether it has happened before I dont know, since have not been following the market that long. The DOW is now definitely overbought with many CLASS SELLS per my system; but the HITECHs are oversold with many CLASS BUYS. Divergences are notmal, but not to this extreme. CLASS 1 & 2 SELLS: DRG, RLX, HCX, DOW, SPX, OEX, XAL CLASS 1 & 2 BUYS: COMPX, NDX, XCI, SOX, IIX, EGI These are to obtained at the highs/lows tomorrow. So what will the market do tomorrow? 1) Since the HiTechs are oversold will they move up & push the DOW up 2) or since the DOW is overbought will it hold the HiTechs from moving up too much 3) or will the DOW drop and the NAZ rise to meet somewhere in the middle 4) or will the market remain flat. Probably sometime tomorrow, all 4 will happen gggggggggggggggggggg - since this is such a wierd market. As indicated before the NAZ has already set lower lows, and it appears that it will probably set lower highs. On the other hand the DOW indexes are setting higher highs and higher lows. The simple explanation is sector rotation, and that this market is broadening out. I am not so sure about the market broadening today with the RUT down and the Advance/Declines was negative when the DOW was up 60 points. Just making observations but have no strong postion. If the NAZ does not pop up substantially tomorrow, in light of the many CLASS BUYs, I will conclude that this pullback in the HiTechs is still intact. So on the other hand, if the DOW indexes does not come down or stay flat, in light of the many CLASS SELLS, then does that mean that the uptrend there is still intact???????? Seeya