MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.58

-0.3%

Jan 7 4:00 PM EST

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To: Lee Lichterman III who wrote (8967)	3/24/1999 3:20:00 AM
From: Moominoid	of 99985

On SPX we stopped right on the 34 dsma which is roughly where we were on 23 July 98. The market then tried to rally for a few days and failed. The 34dma provided support a couple of times on the way up from 8 Oct. We're also right on the trendline from the 8Oct lows to the recent ones at the beginning of March. So if this fails here I would start getting worried. My own indicators haven't given a sell signal. Normally they give lots of false positives. They're more likely to take you out of the market unnecessarily than keep you in it when a crash is coming. ie they pick out Oct87, Oct97, Jul-Aug98 and lots of ones that never happened <g>. But maybe this time is different. David

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