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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: robin 187 who wrote (5674)1/30/2000 12:02:00 PM
From: Jorj X Mckie  Read Replies (1) of 9427
 
Robin,
I don't really expect much of a bounce before the FOMC. Perhaps to 1385 on the SPX. One thing that disturbs me is that we are not getting our traditional "day after reversal" bounce. Usually when one of the indicators reverses, the following day or two in the market is the opposite to what the indicator would suggest.

One thing to remember is that I generally react earlier than P&F would suggest. I don't know if the NYSEBP has reversed down yet, but I went to a hedged neutral position when the 10wk MA flipped down and progressively took a more bearish position as the HILO and OPTI reversed down. I don't necessarily recommend that people follow my trading style.
Tom
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