MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: Yogizuna who wrote (21202)	7/27/1999 4:22:00 PM
From: pater tenebrarum	Read Replies (1) of 99985

Yogi, my impression was that bearishness had become a bit excessive in the short term. this combined with other indicators being in oversold status made a bounce almost inevitable. however, the issues that led to the decline initially haven't gone away. the market's interpretation of AG's remarks was correct: the Fed has embarked on a tightening course. btw, the nutz sector sold off late in the day...the barometer for the mania's health continues to flash warning signals. just heard from bill meehan that European inflows into U.S. equities continued at a record pace this year - that's a big bad medium term sell signal imo. regards, hb

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