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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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To: Les H who wrote (44466)	3/30/2000 6:31:00 PM
From: Saulamanca	Read Replies (2) of 99985

``I would characterize this as a normal corrective move,' said Nick Van Nice, president of tradeworld2000.com. ``We had the breakdown the second week of March and then the rebound last week. This could be a normal correction in a bull market.' Van Nice said the declines could extend to a shelf of support at 4,200.00 before stalling out, although he would not be surprised if the market successfully rebounded from 4,400.00. ``There is a classical corrective pattern off the highs in a symmetrical A-B-C formation,' he said. ``I wouldn't be surprised if it were over right here and go up and resume the uptrend.' biz.yahoo.com A-B-C pattern from John Pitera: geocities.com

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