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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: Saulamanca who wrote (70495)2/26/2001 1:21:53 PM
From: David Howe  Read Replies (1) of 99985
 
<< Former Fed Gov Lyle Gramley thinks it`s unlikely also, barring something disastrous, but thinks they will cut .50 March 20. >>

That news seemed to kick the market back a few steps today, but it's now recovering and the Dow is stronger than before the comment.

IMO, the market is oversold, no matter what the medium term direction is. If the market shakes off the idea that a cut this week isn't likely and it still heads higher, the bulls will be in control for the next two to three weeks, IMO.

Dave
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