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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 681.44+1.6%Nov 10 4:00 PM EST
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To: donald sew who wrote (16391)6/9/1999 11:14:00 AM
From: StockOperator  Read Replies (1) of 99985
 
Donald,

I must admit I did not think we would run into a brick wall so quickly (yesterday's action). However, with the Fed meeting at the end of the month and the markets hanging in the balance I still believe we will continue to work our way through the remaining resistance on the charts up until that meeting. You can just tell by the sloppy daily action (gaps, low volume) that traders lack conviction. Although a possible cease-fire in Serbia may play an interesting twist. At this point I am keeping my eye on the DOW, which has a more apparent upturn on this long term trendline. If it continues to break down I will definitely reassess my position.

Profitable trading.

SO
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