MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.31

-1.1%

Nov 6 4:00 PM EST

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To: HairBall who wrote (41586)	2/27/2000 6:44:00 PM
From: Michael Watkins	Read Replies (1) of 99985

A series of three weekly charts. First, the INDU, which has clearly broken an intermediate term trendline and now the issue is what about the longer term. intelligentspeculator.com Next, the BKX which has already broken both intermediate and long term trendlines. My BKX data doesn't go back far enough for me to look deeper at this, but I think given "why" it hit lows in Oct 98, we need to wonder "why" it is so weak now. Is the Nasdaq the only reason? Or is the prospect of financial collapse once again feared? Don't know, don't care, but I love to draw lines. intelligentspeculator.com Next, the SPX which last week broke and closed below the Oct 98 intermediate term trendline. The position of this and the others leaves open the possibility of either complete and utter failure right here and now, or a rally, upon which further breakdown may or may not occur. intelligentspeculator.com Truly do or die time. I'd surely like to get this over with!

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