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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.21

-1.1%

4:00 PM EST

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To: dennis michael patterson who wrote (44752)	4/3/2000 5:23:00 PM
From: bobby beara	Read Replies (2) of 99985

dennis msft finished right near point of the triangle from last year. It really doesn't matter if it bounces off it. The uptrend in tech is over. You can't get any more overbought than 90% weighting. People got to greedy and threw all their money into tech. You got 8 bulls, 2 neutral on WSW elves, i believe the highest weighting during the bull (of course ralphy was the elve who pushed it to the max a couple of weeks ago -g-) Now instead of going to cash, they are all throwing into what seems to be an emerging trend in the Dow, which now is in it's own vertical spike up. This churning and volitility is all part of the broadening top pattern on the Dow, read arthur hills note on this on stockcharts.com. b

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