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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.43

+1.6%

4:00 PM EST

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To: Terry Whitman who wrote (32713)	11/7/1999 11:18:00 PM
From: Chip McVickar	Read Replies (2) of 99985

Terry, Using the arithmetic Value Line beta.iqc.com Microsoft may drop the markets early tomorrow, but after that....then I believe the charts are saying VLE will stay above the very important 970 and continue on to 995. If the serious supt/rest around 1000 can be over come then 1025 might be possible. The Gann 45ø angle needs to hold and at 995 this is a 50% retrace from the July high which also needs to hold. This is a significant change in large fund buying and a rotation into smaller companies with apparent value. It is the most beaten down area in all the indexes and a logical place to find growth as a result of the success trickling throughout the economy. Nibbling is just starting. Soon the news media will hopp-on and away she'll go. It hasn't happened since March! Lets see what happens? Chip

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