MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: Kerry Phineas who wrote (17550)	6/16/1999 11:34:00 AM
From: Arik T.G.	Read Replies (2) of 99985

Kerry, Usually the 4 should not overlap the 1. Look at AOL chart: The first drop from the top bottomed at 111. If the L.T. trend is down, then this price should not be surpassed in the current up correction. If you believe that the sector is still in a down trend, then you should try to short AOL as close to 111 as possible. Same for CMGI at 92 1/2, and it just weakened from 89 1/2 to 88. OTOH overlapping the lows of the 1 could mean that the whole drop from the top was just a correction (that was already over) in a bigger up trend. ATG

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