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Strategies & Market Trends : Waiting for the big Kahuna
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To: pater tenebrarum who wrote (42533)7/31/1999 8:08:00 PM
From: Dragon 1  Read Replies (2) of 94695
 
Things to watch for or the indicators are the NAPM on Mon. and the dollar vs. bond yields. Don't forget also the employment figure on Fri which is being watched hawk-like by AG and company. The market may not drop 600 points in one day, but if the numbers are bad, it could exceed 600 points by the end of the next week. One more thing to ponder, almost the major indeces are sitting tightly on critical supports here, the DOT, BKX, and the DOW (the latter actually has broken through the 50 day ma by approximately 300 points). It's gonna look very nasty from here on down. By the end of next week, 9800 on the Dow is not an unlikely scenario.
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