MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

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Nov 28 4:00 PM EST

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To: t2 who wrote (82394)	11/10/2001 2:16:51 PM
From: bobby beara	Read Replies (2) of 99985

nv, optionstrategist.com and bernie schaefer's site talk about put/call ratios extensively. the sNp's broke above resistance around the 1104 area last week on expanding volume and a highly bullish tick, i think i could make a case for a five wave count from the swing low in late october to thursday's high, now we have to see if this pullback is contained by 1090-1100 area to maintain the breakout, if so the next resistance is between 1150 and the 200 dma. stockcharts.com[w,a]eaclyymy[d20][pb50!b200!a1104][vc60][iUb14!La12,26,9] stockcharts.com[w,a]daclyimy[d20][pb50!b200!a1104!a1150!a1180][vc60][iUb14!La12,26,9] the high volume doji on thursday indicates distribution, now we have to see if the bulls hold the breakout, any bearish gap down on monday or tuesday and break of those supports on a big candle would indicate this is a bull trap.

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