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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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To: Follies who wrote (61981)	11/7/2000 2:31:36 AM
From: Gary Burton	Read Replies (1) of 99985

Dale--the 30 yr yield in fact triple bottomed in 2000--5.62 in April, retested again at 5.63 on Sept 1 then 5.68 in late October--on Monday, it gapped higher and broke above the downtrend line drawn from the 6.75 peak of Jan 00 and closed at 5.89 right near its high of 5.90. Chart wise, it is a breakout and suggest the lows are in for awhile. First resitance 5.98 that it printed on Sept21-after that daylight till 6.75. GOP sweep/worries over tax cut etc etc could spook the market easily as few are prepared for it. The chart says 'caution'

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