MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

-0.8%

Nov 18 4:00 PM EST

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To: StockOperator who wrote (39468)	2/10/2000 2:30:00 PM
From: StockOperator	Read Replies (2) of 99985

The DOW needs to wake up in a big way if this downward trend is to be reversed. "IF" this is the beginning of a more pronounced correction we could drop another 1000 pts very easily just to reaffirm the recent downward trading pattern. The transports have broken through every OBVIOUS major upward trend line on my long term chart. Just an incredible divergence. I am watching stocks like CMRC which is trading at a critical support area. Any serious break of the 153 level with volume to back it up may send a negative message for the entire b2b sector. If the market can hold this stock price could snap back like a rubber band. Very interesting times. These overall patterns are going to work out in the very near term. As I said earlier I still have plenty of charts that have bullish formations that have taken months to develop. That is not to say that a serious melt down in prices wouldn't change that in a hurry. It's just that it would be very unusual to see. The next couple of days will be critical. Good trading. SO

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