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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

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Nov 26 4:00 PM EST

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To: Michael Watkins who wrote (67827)	1/28/2001 8:39:33 AM
From: HairBall	Read Replies (1) of 99985

Michael Watkins: so the wedge break on the NDX/COMPX is most interesting to me...Failure of a pattern can be useful too. Contraire to what may have been written in the past and believed by the many, "from my experience" rising wedge patterns formed in an uptrend most often portend a partial retrace of the pattern. Of course, they can be the start of a reversal, but the formation in and of itself does not forecast a reversal of trend. It must be used on concert with other technicals. IMO Regards, LG

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