MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.10

0.0%

Jan 23 4:00 PM EST

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To: StockOperator who wrote (55420)	6/28/2000 1:19:00 PM
From: StockOperator	Read Replies (2) of 99985

Keep your eye on the DOW which is now running into a serious brick wall in this overall diamond pattern. There also appears to be a head and shoulder building on the 60 min bar chart. If the Dow does manage to rally hard after the Fed's decision I would pay close attention to the chart on a short term time frame or over the next few days. Because I believe a resolution for this pattern is close at hand there is always a possibility for a quick reversal in prices. The Naz on the other hand has built a pattern overall that is much healthier. Prices are pointing higher even if the market proves to dislike the Fed's decision (within reason). Good trading SO

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