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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.72

-0.1%

Jan 16 4:00 PM EST

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To: d. alexander who wrote (24386)	11/16/1999 8:36:00 AM
From: Johnny Canuck	Read Replies (1) of 69827

Thanks Dorothy, I have not checked the Schaeffer site yet. To many things going on at once right now. My read is about the same. Short of a 1/2 percent interest rate increase the market seems to want to rally. The trading of the financials yesterday indicate it will be a non-event right now. Funny about his indicators though. The EPC was 0.36 yesterday indicating a nearly overbought situation. Keep in mind this week is options expiration week. Price movements may be delayed till next week or exaggerated depending on the stock in order to clear strikes on the options. >>Very nervous making any judgements based on value. Good heavens, >>what's that? Funny, I just answered an EMAIL that asked about the same question. Like Suresh said, the momentum is strong right now. Unfortunately, this means the reversal will be strong too. I don't see a bear though just a correction. We need to let some steam out in order to go higher. Off to bed, see you in a few hours. Harry

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