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: el paradisio who wrote (61630)	10/31/2000 11:35:24 AM
From: KymarFye	Read Replies (1) of 99985

Don't see where you get 3340 as an importance resistance level for the Nasdaq, unless you're going back to the April 24 low of 3345. Looks to me like today's action has already penetrated much more critical resistance level of 3314 (10/6 and 10/18 lows), if not yet convincingly. Recent back and forth within the Gap may soon be over: Close above 3314 should set re-test of 3400 (if late afternoon rally doesn't already get there), then of the "cleavage" low of 3521 (low-point of Summer rally, also where the first snapback rally failed three sessions in a row 10/20 through 10/23-4).

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