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

To: john rieck who wrote (11413)	4/19/1999 12:40:00 PM
From: donald sew	Read Replies (1) \| Respond to of 99985

John, >>>>> Has anyone ever seen such divergence? Any thoughts on if the nets/naz will rebound, OR will they continue down with the inevitable DOW pullback? <<<<< For the short-term(1-5 days), I am inclined to say that the DOW will start selling off some and the NAZ should bounce some, but I do believe that the intermediate top in the NAZ was set last week, so the best I think the NAZ could do is retest the last peak but failing to break thru to the upside forming a DOUBLE TOP, if it gets that high. My analysis does not project price targets that well, just timing. I believe that we are in a TOPPING OFF PROCESS which could still take another 2-3 weeks before the heavy selling starts, and could be as long as memorial day, but Im leaning more towards early MAY. During this topping off process there will be certain sectors still setting new highs, as I mentioned in my index update, while other indexes either remain flat/decline/fail to set new highs. seeya