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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: donald sew who wrote (22836)	8/12/1999 1:39:00 PM
From: Arik T.G.	Read Replies (1) of 99985

Donald, I'm very relieved to hear that the market could get ST overbought for Class 2 Sell signals to appear. Recently the market was so weak it all but ignored Class 1 buys. The fact we got to extreme ST overbought is IMO a good sign for the market. Now if we sell off big from here (under SPX 1295) that would be early response to a weak signal and imply that the major weakness is still here. In this case I would say that SPX 1230 is attainable within a few days. OTOH if the response is normal (sell off begins not before Monday morning to a class 1 sell signal tomorrow) then SPX 1295 will probably not be breached and this rally could last till expiration day, although IMO we cannot to SPX 1350. Thanks for posting those signals almost real time. They are one of the most valuable tools around. ATG

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