MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.28

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4:00 PM EST

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To: dave b who wrote (24917)	9/5/1999 9:34:00 AM
From: donald sew	Read Replies (2) of 99985

Dave, Thanks for sharing the chart: gettingtechnical.com The PINCHes in the Bollinger Bands are fairly reliable, and since a LOWER HIGH was created during the pinching process it does imply a downward bias. However, the NAZ or the NDX, which set a higher high, may show the opposite if there is a pinch. Just checked and theres no pinch on the NAZ/NDX. It appears that the sentiment has turn significantly positive in light of FRIDAYs strong price performance, although the market internals were not overly convincing(they did improve some, though). With many fundamental/technical analysts calling for new highs, I still feel comfortable with my position of a TRADING RANGE TREND with a slight upward bias. I just want to express caution in predicting the huge move in either direction. This TRADING RANGE trend will create more WHIPSAW environments and those with strong predictions of strong moves in either direction, may get hurt more. seeya

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