MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.28

-0.5%

4:00 PM EST

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To: HairBall who wrote (32992)	11/9/1999 6:16:00 PM
From: Ken98	Read Replies (1) of 99985

LG, excellent chart and excellent analysis as always. I question however how helpful most TA is during this blowoff phase to pick any reversal. Most indicators are beyond overbought and most cautionary formations like the ones in your chart get run over by this train. If the Naz futures are already up over 22 on the heels of the CSCO announcement (trading at 78) and the PPI number is "in line with expectations" (any doubt that it won't be?) then the indicators will get even more overbought and more formations negated. This is not a knock on your analysis at all, but just my take. Trying to trade any sort of reversal in this environment can be hazardous to one's health (and wealth). Do you think those gaps will ever get filled? Regards, Ken.

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