MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 690.27

0.0%

Dec 26 4:00 PM EST

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To: pater tenebrarum who wrote (47445)	4/20/2000 12:54:00 PM
From: Grandk	Read Replies (4) of 99985

Has there ever been a time when the Naz hasn't closed a window? We recently closed the window created on Dec 1st (I believe correct day)with the pullback Tuesday morning. However, another window is open late October around the 'magic' 2900 level. Im thinking this is why 2900 is such a popular number among the TA 'experts'. I guess when stochastics have been in overbought territory for the majority of ten years, one can expect a bit of profit taking. Im a young buck, and I dont pretend to understand exactly what's going on. I think this scared the piss out of a lot of rich people, and for the next few months at the least, people will be more apt to take profits. However, looking at the chart below, one can argue that the naz is still very 'overbought'. Worst case scenario-Naz to 1500. lol, Im a bull, I swear! bigcharts.com

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