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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.10

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Jan 23 4:00 PM EST

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To: pater tenebrarum who wrote (27491)	9/27/1999 6:58:00 PM
From: bobby beara	Read Replies (2) of 99985

Heinz, i took some money out of gold stocks today and am hoping for a pullback to get back in lower, from my 15 minute wave counts we may have topped wave three up today or tomorrow if we pop, then should get some profit taking. I think the balmer black candle is going to be resistance for the ndx, if you notice the ndx repelled off the area of the july 16th and 8/25 closing highs and may have reinfoced the breakout to new highs as a false breakout, this is coincident with the intel chart i posted earlier. I agree the techs haven't corrected enough yet, not enough people were buying puts last thursday and friday. I may funnel some of my gold profits into tech short area. I already believe it's a bear market, but another failed rally here off this oversold oscillator and rsi readings will convince me 100% bb

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