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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 692.24

+0.3%

Jan 15 4:00 PM EST

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To: sean sanders who wrote (19530)	7/6/1999 9:07:00 PM
From: bobby beara	Read Replies (1) of 99985

>>>everyone buying puts a little over a week ago. <<<< Mr. Sanders, the put buying a few weeks ago was far less than the put buying surrounding the feb/march lows. Call buying is at an extreme now and the market is very overbought. the triangle bottoms i am using on aol are off the 4/19 bottom and the 5/7 bottom schwab 4/1 - 4/19 - 5/6 another area of resistance today: if you get a closing price line triangle on the XCI, with the start of the triangle at 4/7 and 4/19 the closing price target is 1020, Friday we closed 1014 today we hit 1028 intraday and made a shooting star gap open and close negative. I believe at minimum we will retest the breakout at 950-975, at maximum we have put in a top. bb

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