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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.28

-0.5%

Dec 1 4:00 PM EST

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To: Tom Pulley who wrote (83643)	1/28/2003 8:57:41 PM
From: Tom Pulley	Read Replies (2) of 99985

Although I went 50% long this morning, it seems unlikely that we are ready for a strong upleg. The equity put call closed at .51 and the put/call closed at .66. These aren't the readings from which strong upward moves start. cboe.com The Nasdaq 100 Bullish percent index is no where near the level of 20 that has been needed in recent years to signal the market is ready for a good move up: stockcharts.com[e,a]daclyyay[d19950701,20031101][pb12][vc60][iUb12][J6454307,Y]&pref=G But, I'll still follow the model. Sometimes when it seems least likely to be making a good call, it comes through. We did a get a -1000 NYSE tick on Monday, so there is at least some pessimism out there despite the put/call readings today. Its 8:00 CST, let's see what the President has to say...... Tom

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