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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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To: HairBall who wrote (51768)	5/23/2000 1:10:00 PM
From: flatsville	Read Replies (4) of 99985

LG-- I have a hunch that when the $NWX.X chart starts looking obviously bad (it does to me now) that this will be all she wrote. The networking index has shown much more overall strength than SOX for example which is starting to look bad to me as well. Yesterday CSCO looked like it was about to crack based on the weekly chart. As a result I thought there would be more damage to NWX on the downside. Not so. But the stong resistance just above 1050 looks ominous (three head buts on daily chart--couldn't break through.) If I were bullish on that sector I'd be sleeping with a nitelite. <ggg> If you are so inclined and have the time could you pull a NWX 60 min chart? S/R lines and Fibs may be very telling. I think the NWX is the only sector that is keeping the Naz from diving into an open grave. Thanks,

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