MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

+1.6%

Nov 10 4:00 PM EST

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To: donald sew who wrote (29123)	10/12/1999 5:12:00 AM
From: Lee Lichterman III	Read Replies (2) of 99985

What are you doing up at this hour, I thought only idiots like me were up. <g> Futures just dumped a few minutes ago. We are now in sell territory. Confusing times like always lately. I don't see a large decline yet but I am getting a lot of over bought signals but most are still short term signals and not the type that signal larger drops. My longer stuff points to another week at least and it could take as long as the end of the wedges you pointed out. Maybe it will be the trade report Next Friday that does it. With INTC reporting soon, SUNW and PMCS Thursday and MSFT next week, they should drive the short term I would imagine. Personally I still think we could get a bit more upside before we finish but my track record is not doing well lately since I have been too busy to do my usual DD. I am still inclined that we are in a flat trading range bouncing around in a search for direction until the jitters over the November FOMC takes over from the current steering from earnings. Earnings = positive bias, FOMC = negative bias. Well I am off to work soon so I am going to get another cup of Joe and watch the futures some more. Good Luck, Lee

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