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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.08

-0.8%

Nov 18 4:00 PM EST

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To: GROUND ZERO™ who wrote (39623)	2/10/2000 6:46:00 PM
From: StockOperator	Read Replies (1) of 99985

GZ, The divergences we are seeing across the board, imo , just can't last. Seeing the transports break through every support point on the charts has been odd enough. I just don't see the NAZ continuing this latest bull leg on its own especially when the other avgs are not even consolidating sideways, but getting killed. The DOW has to make a serious turnaround here in the very short term. This latest weakness has stemmed from a failed attempt to breakout of a longer term pattern about a month ago. I am sure you have seen this often enough in individual stocks that fail to break a certain area. It's almost as if need to regroup before attempting to take out that resistance again. The silver lining in these failed attempts is often a faster trend once a breakout happens. In this case "IF" it happens. Time will tell. Good trading. SO

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