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

To: j.o. who wrote (15723)	6/3/1999 12:51:00 PM
From: pater tenebrarum	Respond to of 99985

j.o., your expectations correspond with mine...a small corrective rally, perhaps to the 1320 area (if that far), followed by a resumption of the decline. a very important test of the market will arise if the jobs data are considered 'positive'. if the market then produces a one-day rally without follow-through, we'll have all the confirmation we need for our stance. and i'm currently also of the opinion that the bond will likely be the beneficiary of a flight-to-quality as you say. this has in fact already started to some extent, as money has been shifted into the utilities. regards, hb