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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 674.96

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To: GROUND ZERO™ who wrote (16973)	6/12/1999 12:37:00 AM
From: bobby beara	Read Replies (1) of 99985

GZ, the rally was on weak volume it turned the 50dma from support to resistance (and the bottom trendline on my chart from support to resistance) and the millenium crash, bubble and kahuna threads are all ghost towns filled mostly with skeletons (sorry Arik -g-) -g- The Dow looks like the October 1997 chart and we are at about October 23rd. bway.net elliott on ending diagonal triangles: "an exhaustion of the larger movement after the preceding rally has usually gone to far, too fast" sounds like the october to jan rally in the spx and the nasdaq. you can make an ending diagonal out of the nasdaq also, but it's not as pretty as the one on the spx. Should also add to that chart: stock market valued and 150% of GDP, same overvaluation as nikkei top and 1929. bb

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