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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 672.07-1.7%Nov 13 4:00 PM EST
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To: Les H who wrote (23912)8/27/1999 2:03:00 AM
From: donald sew  Read Replies (4) of 99985
 
Hi,

After closely reviewing the response to this CLASS 1 SELL signal, I have taken a more negative position. Originally, I felt that this pullback would be only small; but now I feel it will be stronger than most expect it to be.

Although the DOW did set NEW HIGHs the SPX and NAZ have produced LOWER HIGHs as of yesterday. Of course we need more confirmation but with yesterdays performance, I got the first hint that this week's highs were a short-term top and may even be a mid-term top.

I am also not putting alot of emphasis on the DOW setting new highs, in light of the sector rotations we have been seeing since APRIL. I would consider it more viable if the SPX was to set new highs.

As for the next few weeks, my short-term cycle analysis is showing another top around SEPT 14, and at this time I have to wait to see the extent of this pullback to get a hint if the SEP 14 short-term top will be a higher high or a lower high. The longer this pullback last the lesser the chance of setting higher highs. For now I am suspecting more selling into MONDAY with the possibility of the 3-DAY PATTERN occuring(today would be DAY-2 which should either be flat or down strong).

seeya
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