MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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To: FJV who wrote (33599)	11/17/1999 8:10:00 PM
From: bobby beara	Read Replies (2) of 99985

Franco, the banks and brokers are very overbought, xbd bearish engulfed yesterday stick and reversed in the area of the bearish candles off the april parabolic top. It could be just going back to test the breakout point of the base, we will have too see. tick and trin are not indicators i follow closely, but we have bearish divergences in internals and way too much optimism via the p/c & rydex ratios, and overbought rsi on nasdaq, we may correct here and try to make a higher hi on nasdaq with diverging mo, will have to see. And for those following qcom, it has the same signature of excess several brokers had at the april top, between 60-100% above its 50 dma at the peak. bb

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