MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

+0.4%

Nov 19 4:00 PM EST

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To: Jacob Snyder who wrote (26694)	9/23/1999 5:31:00 PM
From: Jacob Snyder	Read Replies (1) of 99985

QQQ TA: I'm definitely less confused today. The signal was clear: closed below the 122-127.5 trading range. Looks like we'll see 114 for sure (next support), very soon, which is 10% off the very recent all-time high. QQQ down 4.2% today, SPX only down 2.3%, so the invincible big-cap techs may be starting to follow the invincible big-cap banks and drug stocks. One by one, the leaders have fallen away. And the last stock to go will be MSFT, which (I have on good authority) is overvalued.

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