MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.34

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Nov 3 4:00 PM EST

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To: Kailash who wrote (41433)	2/26/2000 2:40:00 AM
From: Michael Watkins	Read Replies (1) of 99985

Kailish, That's a diabolical scenario indeed. Guess we will just have to wait and see. And just to complete the bearish picture, lets look at the NYA - the NYSE. A mere few points from testing the lows of Ooct 98, and clearly broken at this point on a longer term basis as this weekly chart shows. Its charts like these that make me cautious - we aren't talking 30 stocks here, we are talking a very broad collection of stocks, except notably fewer tech stocks. Should this rally we can expect plenty of resistance overhead to challenge it. intelligentspeculator.com This chart is the definition of a long term trend ending and a new one emerging. And that trend is down. Things move up we make money, things move down we make money. What a great system! When the Nasdaq falls, even market orders may go unmet. Put the foolish money in a basket and let it drop. I wasn't trading actively in 87 but have heard the tales told from both sides of the fence. Frankly I'm looking forward to a no-bid kinda day. Should be fun.

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