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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: Lee Lichterman III who wrote (31922)	10/31/1999 10:05:00 AM
From: Terry Whitman	Read Replies (1) of 99985

Lee, I see you changed your mind from being cautiously bullish to cautiously bearish after looking at the A/D and the overall market. The generals have moved out to battle. The soldiers have been lagging for quite some time. The generals look like they are going to have to either concede some Benefit$ to the soldiers, or they will have to battle the bears alone. <g> decisionpoint.com This year has been strikingly similar to last yr. The true bottom last yr. saw a slightly higher bottom in the 1%ema. The index itself bottomed in a classical W-pattern which is common. A 2nd higher bottom is also a common pattern seen at major turning points. A V- bottom is less common, and with the straight move up, we have yet to test the last bottom. I will be watching the test closely, along with the $US, and of course the soldiers. <g> I seem to be thinking along the same lines as Donald. Which is a good sign to me. <g> Regards, TW

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