MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 686.96

-0.1%

4:00 PM EST

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To: dennis michael patterson who wrote (37502)	1/15/2000 10:40:00 AM
From: Les H	Read Replies (4) of 99985

It's easy to be bullish when the Nasdaq is almost 40% above its 200-day moving average. Meanwhile, I wouldn't be surprised by the market rallying to the Fed meeting as it did in the last three Fed rate hikes. There seems to be the anticipate the obvious rallies the past six months: buy now because stocks will rally after the Fed raises rates (i.e., buy on the rumor because people will buy on the news) and buy now because stocks will rally after the Y2K-no-show. I have next significant bottom on week 20 (from the October low) in early March just after the last of the Y2K-milestones on February 29.

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