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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.56

-1.5%

Nov 20 4:00 PM EST

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To: Vitas who wrote (30696)	10/20/1999 7:25:00 AM
From: donald sew	Read Replies (2) of 99985

Hi, The NEW LOWs did improve from the over 500 on FRI to 288. Not to say that it is a strong sign of strength, but it should be watched closely. I will not make that much of the improvement in the NEW LOWs since the NEW HIGHs has only improved to 20. 288 is still a significant negative reading by itself, but I also watch the rate of change besides standard figures. The move from over 500 to 288 was quick and significant, but not yet confirmed by the NEW HIGHs. It needs to watch carefully as a hint to whether or not we already hit a short-term bottom. The futures are up significantly at near 7, which is hinting a lack of fear before the TRADE REPORT. One commentary was that the expectation is at the same level as last month. If the figures meet expectations, the market may rally, but what is interesting is that figures similar to last month are not good for the U.S.DOLLAR even if it doesnt worsen. seeya

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