MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.39

+0.5%

Nov 28 4:00 PM EST

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To: dennis michael patterson who wrote (25110)	9/8/1999 8:26:00 AM
From: donald sew	Read Replies (2) of 99985

Dennis, I had only received a CLASS 2 SELL signal, and the market already appears to be turning with the help the rise in rates in Britain. This implies that the negativity could be stronger than normal and that this pullback could be strong. Im not talking about a BK but a pullback in the 400+ point range in the DOW. The problem with this projection is that if the news is good, things could turn positive very quickly, as we saw last week. What a WHIPSAW environment, overall, except for the HiTECH area which is still on firm footing, so far. It was interesting to note that although the market internals deteriorated yesterday slightly, the RUT was up. If that continues, such could support another strong rally later. The TYX are already approachings levels prior to last FRIDAYs drop, and the dollar is still moving down. Lets see how deep this pullback gets - might just be a good buying opportunity. seeya

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