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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 687.57

+0.7%

Dec 10 4:00 PM EST

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To: donald sew who wrote (7730)	3/8/1999 9:16:00 AM
From: Les H	of 99985

The short-term oscillators are all saying to give it a rest. The Stochastics-5 and Wilder RSI-5 are overbought. The TRIN-5 is at .76. Not much magical about the 10,000 number except for the public. The 28-day moving avg envelope has the upper target at 9878 as a potential peak, while the 28-week moving avg envelope has the upper target at 10,080. Need to see the indices hold in the upper part of the moving average channels before these targets start to move up. Got another weekly sell signal on the Dow due to negative divergences with Up/Down Volume (U/D) Ratio and Advance-Decline (AD or McClellan) Oscillator. Last sell signal was 1/24. Last buy was in October 16. Previous sell signal before that was July 24, 1998. As for the Federal Reserve, they didn't drop the interest rates because of inflation or disinflation. They did it to rescue the bond market. They can always undo this "insurance move".

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