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

To: Gersh Avery who wrote (8445)	3/18/1999 7:39:00 PM
From: donald sew	Read Replies (4) \| Respond to of 99985

INDEX UPDATE ========================================== My short-term technicals are all back in the CLASS SELL category, some CLASS 1's and some CLASS 2's, so the BUY-IN should be at tomorrow's highs again. Since there are some CLASS 2's, it could morph into a CLASS 1 and with MONDAY as the BUY-IN. It is quite obvious that the 10,000 number and triple witching are skewing the market. The market internals are still poor, but are not getting significantly worse so it could still move up. Whether its tomorrow or next week, they will close the market over 10,000. Since the short-term techncals are so overbought, if there is a close above 10,000, I am not expecting much immediate upside and that it should start to sell some again after closing above 10,000. Per the research done on MDA, I recall that after every "THOUSAND MARK" was reached the DOW only average about 1.4% gain over the next month. And we all know that it took many years for the DOW to break the 1000 range significantly. Caution should definitely be taken in light of the current rise in price of oil. Who really knows if it will hold or not, but for the time being rising oil prices aint that great for the market. As much as many expect the market will head much higher immediately after closing above 10,000, lets keep in mind that not many stocks are participating in the rally. sEEYA