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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 660.08-0.8%Nov 18 4:00 PM EST
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To: bobby beara who wrote (57051)7/22/2000 6:15:20 PM
From: Les H  Read Replies (2) of 99985
 
We could get a good trading low by mid-week. More follow-through on the selling and the new 20-day lows should be quite high by Tuesday or by mid-day Wednesday...800 to 1000 out of the 4100 stocks I sample. I suspect such a two-to-three day follow-through would also bring the proportion of buy signals in the general market up to 70-80 percent. The anomaly at present is that the S&P 100/500 is overbought since I now have a high proportion of sell signals in the large caps and those indices remain nearest 52-week highs.
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