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

To: Les H who wrote (15574)	6/2/1999 8:53:00 AM
From: donald sew	Read Replies (1) \| Respond to of 99985

Don't have much new to put on my INDEX UPDATE, but just that my short-term technicals are in the LOWER MIDRANGE for the overall market, and on a statistical basis seldom will strong selling start at these levels. Therefore I am expecting some upswing before the strong selling starts again. This upswing should not be that strong and may only last 1-2 days. The SPX resistance of 1320 should hold if it gets that high, and there is another resistance around 1301 before that. Obviously the economic news will have effect on the direction, so if we do get some good news it should push the SPX to the resistance area, but then selling to resume. seeya

To: Les H who wrote (15574)	6/2/1999 12:44:00 PM
From: Slava Chechik	Read Replies (1) \| Respond to of 99985

Les, Bobby I have the same thoughts exactly. But not only Nutz look bad, major indices such as INDU and COPMX look quite similar to OSX year ago. They are just in the different phases of the decline. I hope I've learn the right lesson in OSX stocks ;>) But there is a possibility of temporary "W" bottom in most stocks quite soon. Daily stochastics and MACD will be on the buy side and then another move down, because weekly MACD did not get oversold or reversed. I have a question. We've had oversold Trin reading for few days now, but no bounce in NASDAQ? Does it tell us that NASDAQ has much more downside ahead? What takes preference TRIN or TICK in case one of them is bearish and the other one is bullish? Any thoughts on NEM, PDG and other golds? Good luck Slava Chechik