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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (3462)	1/8/1999 1:11:00 AM
From: eabDad	Read Replies (4) \| Respond to of 99985

bb- While the CBOE ratio is obscene, the OEX is not so bad - needs a little work. What we might get is more of a multiweek/month top (like last year). This will give some time to get the optimism up and the OEX P/C ratio down. My guess is that the banking sector gets the first correction, and trading in the techs will be damned frustrating (some good some bad). The oil and gas sectors may actually rally a bit (although the money flow in the sector is not great). Need to do some sector analysis to make a more complete picture. I am noting that many tech and cycle analysts are calling for the top in April. Last year, while the Dow and S&P top was July, many now point to April as the top. I think we'll see something similar in structure. Beats the hell out of me what the trigger for the downturn will be though. Z