MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

+1.6%

Nov 10 4:00 PM EST

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To: HairBall who wrote (65855)	1/4/2001 8:15:15 PM
From: bobby beara	Read Replies (1) of 99985

lg, this is kinda of interesting, most major bottoms we've seen lately like october 99 and 98, saw major buying breaking thru resistance, and usually gap, it is interesting that we are stalling here at the top of the nyse triangle and the spx downtrendline, maybe we need some more consolidation or a trip back to the bottom of the range. jan 2 was a 52 week low in rydex ratio and already the bullish funds and leveraged funds are approacing overbought, plus leveraged bull funds are making 52 week highs. both csco and ge did possible distribution candles into there topping patterns. b

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