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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 684.45

+0.1%

Dec 4 4:00 PM EST

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To: Lee Lichterman III who wrote (29433)	10/13/1999 4:56:00 PM
From: Lee Lichterman III	Read Replies (4) of 99985

While we all wait for earnings and our data to come in thought I would pose a rhetorical question. IF we were to bounce off either at the previous low tomorrow or slightly above the previous low, would you consider it a successful retest and double bottom for the next leg up or would the fear of further interest rate hikes, etc take precedence and would you wait for another chance to short the rally instead fo going long??? I have to admit, I am still not that bearish but I don't know why. Rates are likely going up, the bond is falling, we just lost 6 days gains in two days, the Advance decline and new hi/low look like crud but I am seeing a few stocks bouncing off supports, a few failing to drop at all and the dollar held up fairly well today at least against the yen. Tonight's charts should prove interesting but they will have to wait. I am going to bed shortly so I can repeat this frustrating exercise again tonight. Good Luck, Lee

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