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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 668.73

+1.5%

Nov 24 4:00 PM EST

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To: Lee Lichterman III who wrote (21170)	7/27/1999 8:00:00 AM
From: HairBall	Read Replies (1) of 99985

Lee: Thanks for the contributions in the middle of all the problems. The pullback started as expected last week, with the exception of the drop at the start of last week, which was quicker (sharper) than expected but the depth so far has been in line with expectations. I suspect the “big boyz” were doing a psychological move...<g> I am not sure about Don's signals...but I was looking for the Market to begin to find support Monday or Tuesday this week as the stronger support areas began to come into play as many chart indicators were signaling oversold as well. Some of these stronger support areas were penetrated but not broken. The “must hold” levels have not been reached yet, but if these present levels do not hold, this is more than a minor correction. Most will be calling today a technical bounce. Regards, LG

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