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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.17

+0.2%

Dec 11 4:00 PM EST

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To: HairBall who started this subject	9/22/2000 4:24:36 PM
From: Temple Williams	Read Replies (2) of 99985

I believe that Monday will reverse sharply lower. The Cash market's gap from this morning also closed, for all intents and purposes (it is open by a few basis points, a tiny crack, but not enough for me to consider it a meaningful magnet). The recovery today was extraordinary, and some folks (bulls forced out at the open, and bears burned out at the close), will interpret the market as unstable. Nobody will love it. Dollar weakness through intervention (which never works, but still exists in the s/t) will suggest that some overseas money can be more productive in other markets. Instability and extra sellers ... sounds like a recipe for a down Monday. The trend, however, is neutral and could move to bullish. If that happens ... and I do not expect it ... then the bull may romp in the meadow next week. But I doubt it. Have a great weekend, folks. Last chart update. fwiw. sellnow.net

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