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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

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Nov 14 4:00 PM EST

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To: Ditchdigger who wrote (41700)	2/28/2000 7:28:00 PM
From: fuzzymath	Read Replies (1) of 99985

Might today's rally have what it takes to continue for a while? Today's burst flipped all of my short-term NYSE models to positive, with patterns that look more bullish than anything we've had in the past few weeks. Only my long-term Model #3 is unimpressed: it continues to consider cash a better investment than stocks. Clearly, the broad market has fallen far enough to warrant at the very least an upward "correction" within a longer term downtrend. Since there was no major news behind today's rise, it has to be considered nothing more than a reaction to last week's heavy selling. A reaction to prior selling doesn't change the fundamental trading environment. But buying on top of buying can change everything. The question is, does anyone have cash to buy with, or has all of it already been plowed into the market? The next few days will be very interesting indeed!

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