MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 690.27

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Dec 26 4:00 PM EST

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To: t2 who wrote (81667)	9/4/2001 7:35:38 PM
From: Robert New	Read Replies (1) of 99985

Agree fully...capitulation is what is needed to washout this market and find a level where meaningful buyers can be found. Every rally has become shorter and shorter in duration and I wouldn't be surprised to see a waterfall event fairly soon. Noticed that the VIX stayed high during today's rally and closed at 28.5. We need a 35+ print to really get my attention on the long side. With sentiment trending down over the past month and the trin high I think we are getting an alignment of some of the necessary ingredients in locating a near term bottom. However, cash is king until we see some type of across the board capitulation.

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