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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.43

+1.6%

Nov 10 4:00 PM EST

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To: Chip McVickar who wrote (32711)	11/7/1999 10:00:00 PM
From: Terry Whitman	Read Replies (1) of 99985

Chip, I have kept an eye on the Value line chart too. To me- it represents the average stock much better than any of the mega-cap weighted indices. quote.yahoo.com^vlic&d=b The VGY climbed from the bottom at 396 all the way to 420 on friday, hardly pausing for a breather. Ironically, that is the exact same level of it's last top. I think what tells the tale will be the next bottom. Above 396 and it becomes bullish. Below 396, and you have a double top in a longer term down trend- Not exactly bullish. Regards, TW

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