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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 694.04+0.7%4:00 PM EST
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To: Haim R. Branisteanu who wrote (67125)1/18/2001 1:24:24 PM
From: Winston Lee  Read Replies (1) of 99985
 
<<Since Jan 11 NDX is up 350 points quite amazing>>

But it's down about 2200 points in 11 months. Smart money has been covering short positions for the past 2 weeks. 2700 is a formidable resistance, but it's breaking down slowly but surely.

I expect strong run-up to FOMC meeting, perhaps as high 3000, and then a fall back to 2650 some time thereafter. The time to short (for short-term trading) is the day of FOMC.
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