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To: donald sew who wrote (37673)	3/29/1998 12:49:00 PM
From: j g cordes	Respond to of 58727

Nice thoughtful index update Don. On the OEX I've got the rsi, momentum and stochastics good for a drop to at least 510 or 500 within an 8 day time frame... the rolling over which is signaling this down turn may be false anticipation of next week's news (fed,opec), or the news may have nothing to do with it. Cash flows have been (are? if not watch out) substantial going into April. This run has gone unabated from early Jan from approx 430 to 530.. that's quite a jump even for a whole year. If we get a last hurrah rally on good news next week, 540 would be trading on tip toes without a net. A 490 retrace might even make K Starr look up from WhiteHouse magazine... a 465 retrace might make Heraldo. the sectors most overbought are utility, trans, aero... precious metals the least with semi's a close second... question/answer_ dow theory gives transports and utilities the nod for a bull market. Jim