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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 691.81

+0.6%

Jan 6 4:00 PM EST

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To: dennis michael patterson who wrote (58502)	8/27/2000 3:42:33 PM
From: James Strauss	of 99985

Jim, would I be wrong to think that you'll hold long until the SPX cash breaks, say, 1453? Or would some other number trigger a sell by you? Dennis: 1453 sits on the Fibbonaci 89 day MA... This is a very important area numerically... 1435 is at the 200 day MA and 21 day Bollinger Band... My guess would be that any dips would find support in one of those two areas... I have an intermediate term trendline that shows good support in the 1435 area... This has been reliable for the last 12 months... So, to answer your question, I'd be concerned if the 1453 support was taken out but I'd hang on to see whether or not 1435 holds... That's the key for me... chart.bigcharts.com Note the 100 day MA above the 200 day MA... That's a lot of upward momentum... Jim

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