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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.70

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To: John Carson who wrote (33522)	11/16/1999 3:56:00 PM
From: donald sew	Read Replies (1) of 99985

John, >>>>> I believe CPI number is tomorrow. Will it matter? <<<< Its the same old thing, PING-PONGing from one economic report to another. Before the announcement it appeared that the bad news was if the feds were to hold the bias. Since they eliminated the bias the market is taking that as good news and we are now up 130 points. I feel this is just a knee-jerk reaction and some selling should follow, nothing big. The intermediate trend is still up and probably wont change till sometime next year. As for whether the CPI matters, I dont think it would be that negative to change the intermediate trend. We will get some sort of a pullback within the intermediate up-trend, but that should be a buying opportunity. The CPI, by itself is not that urgent right now concerning the intermediate trend, but will be a short-term mover. So if you are playing the short-term, it will matter, but if you are playing the intermediate turn, not that urgent. If we get a series of bad economic report, thats a different story. seeya

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