MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: Haim R. Branisteanu who wrote (63769)	12/5/2000 12:42:12 PM
From: Rob S.	Read Replies (1) of 99985

Two macro factors have turned bullish: The Gore/Bush clash is near resolution. Greenspan warned bankers not to swing too far to the extreme of tightening - signaling the FED will take a bias to lower rates in coming months. He also discussed softening in housing and other equity driven markets and the continued ability of productivity to offset inflation and fuel continued expansion of the economy. I expect market interest rates to move lower without an official FED lowering. The only remaining bearish factor is that slowing in some industries will continue for a while. But I think that most stock prices have already discounted lower sales and earnings and stocks are cheap. As the TA shows, many stocks are due for a technical rebound. The first stocks to rebound with huge gains are the tech "darlings" such as JNPR, NTAP, etc. These will move up to resistance levels as quickly as you can click your mouse button. The second and third tier tech stocks will follow. It is very likely that profit taking will cause stalls and pull-backs but the trend to lower interest rates will shift this market to a bullish bias for months to come imo.

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