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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.56

-1.5%

Nov 20 4:00 PM EST

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To: HairBall who wrote (16619)	6/10/1999 1:57:00 PM
From: HairBall	Read Replies (1) of 99985

KM: Well DELL was in a bearish flag with in a falling wedge (bullish). I thought the edge of the flag would hold today. DELL struggled with it for a good part of today, but it has penetrated the ascending lower trend line of the bearish flag. Actually a break to the down side is the normal resolution of that formation. I just did not think it would happen today. However it still struggles, but now slightly below the trend line. Next major support is at the ascending lower trend line of the falling wedge...at about 31 today. I am not sure if DELL will stabilize here are test that lower trend line of the wedge. I "was" leaning toward stabilizing above 34 short-term, BWDIK...<g> Take a look at my "featured stock chart" on my Chart Page on the MDA Web Site...if you want to see the formations I am talking about. homestead.com Regards, LG

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