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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.38

+0.1%

Nov 12 4:00 PM EST

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To: el paradisio who wrote (46303)	4/16/2000 4:57:00 PM
From: John Pitera	Read Replies (2) of 99985

EP, that sounds very plausible to me, I am by no means adament that we need to go to 2900, but I would not be surprised. We did hit a very nice support zone @ 3250 on the NASD geocities.com a 50% retracement of the entire leg up since the panic low of Oct 8th 1998, and we came down to that rising green trendline Further demonstrating the Mathematical Power of Fibonacci relationships, especially when the cluster, is the fact that the .382 retracement of the entire move since the oct 20th 1987 crash low is also @ 3250. geocities.com when we get Fib levels that cluster together such as these, it increases their magnetic power. the DJIA is still above it's trendline and we have a nice Fibonacci support number @ 9400. geocities.com John

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