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

To: Compadre who wrote (13581)	5/11/1999 4:29:00 PM
From: StockOperator	Read Replies (3) \| Respond to of 99985

Jaime, There was a lot of green at the close. The Naz and trannies performed well today. The RUT once again closed at the highs implying they should go higher tomorrow. However, the RUT is now running into some resistance at these levels. Rates also closed at their highs implying tomorrow they could go higher as well - possibly breaking out here. The one observation that bothers me is the DOW. Which could very well be a leading indicator here. The DOW yesterday lost roughly 22 pts. Today, after being up over 60 we only managed a 18 pt gain. We could not even make up yesterday's loss. This statistic alone will cause me to stay in the cautious camp. As a matter of fact depending on what the individual charts look like I may move that to extremely cautious. I will have to wait until later to download to see what happened today. Regards, SO