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

To: Lee Lichterman III who wrote (12404)	4/29/1999 1:02:00 PM
From: HairBall	Read Replies (2) \| Respond to of 99985

Lee: My question is open to all but since the DOW has not been affected by the negative bias so far, will it be immune to the upside push I expect to come this afternoon or will it propel it up in a push towards 11000? As I have laid out my opinion in many previous post, the Dow Indices are benefiting from the decline of the Hi-techs and Internuts as money comes into previous out of favor blue chips, perceived to be safer ground. The techs and nuts have been trending down along the lower trend line of the falling trading channels of the NDX, COMPX and DOT since the gap up Tuesday AM. If there is a big bounce for the techs and nuts this afternoon ( I suspect not until Friday)...it will most likely be at some expense of the Dow Indices. If not, that would be most interesting. Has anyone seen Gersh, FredE or Bear King lately? As, they contribute to the MDA Web Site, I have not seen postings as of late on the MDA thread...or maybe I just missed them. I have been distracted lately with a work crew in and around my office. Regards, LG

To: Lee Lichterman III who wrote (12404)	4/29/1999 1:07:00 PM
From: Les H	Read Replies (1) \| Respond to of 99985

You're getting the benefit of the favorable ECI report on the financial services stocks in the Dow plus the continued momentum in the cyclical stocks. You'd normally wouldn't have the two groups moving up at the same time. BTW, JPM, C, and AXP are the most highly correlated to the DJIA of the Dow stocks.