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Strategies & Market Trends : Fidelity Select Sector funds -- Ignore unavailable to you. Want to Upgrade?

To: Julius Wong who wrote (1341)	12/12/1998 11:04:00 PM
From: Jim Battaglia	Read Replies (1) \| Respond to of 4916

Julius, this concerns me. I like to share with you a old SI friend(James Strauss) comments on the market: "There will be many Bull and Bear opinions... But, one thing cannot be misinterpreted, pure numbers... Rising New Lows, Rising Declines, and Rising Down Volume... This is negative... So, whatever interpretations may be given for a bullish view, the numbers say otherwise... There is an old saying that putting your hands in front of your eyes may block the view of the sun, but the sun is still there... As long as these market internals continue to deteriorate no amount of Bullspeak can make the market go up unless these internals improve... : >" "The Transportation Average... decisionpoint.com Note how the transportation average is also breaking resistance levels to the downside... This average has been a leading indicator for the market on the upside and downside this year... It makes sense since Transportation stocks are tied in with the Airlines, Trucking, and Rail... These are the movers of people and goods... So, its current downward bias is yet another indication of a declining market atmosphere..." "Market Internals Becoming More Bearish... quote.yahoo.com New Lows Are Expanding... decisionpoint.com If New Lows consistently stay above 100 we're in for a more severe correction... Here is a look at the Rydex charts... Pay particular attention to the Ursa fund... This is a BEAR fund... You invest in it when you think the market is going down... Right now the chart shows this at a bottom... That's where you want to see a BEAR fund if you're looking for confirmation of a correction... decisionpoint.com Regardless of what happens in the Impeachment hearings the market is going to do what the market is going to do... Right now it looks like "Down" is the dominant direction..." My thoughts: Those of you that have followed my ACM thread for the 18 months know that these are all key indicators that I follow and speak on regularly. Jim