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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.56

-1.5%

Nov 20 4:00 PM EST

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To: donald sew who wrote (110)	12/3/1998 9:31:00 AM
From: Patrick Slevin	Read Replies (3) of 99985

Donald, have you looked at the dollar? While waiting for the RTH market to Open I just happened to throw up a chart on the Greenback and I notice that the buck started to slide in late August halting @ 91.48 on October 8. That rally looks as if it may have failed on 11/27, 11/30. I'm just wondering if there has been a correlation there over the years or if this is just an unusual coincidence. In any event, the pattern recognition work I rely on most suggests to me the low of the week is not in. If today were to drop fairly straight down the pattern would most likely be complete and tomorrow would bounce. Most likely, I think the pattern is telling me the optimal short will arrive somewhere around mid-day and the market will have the weekly lows tomorrow with a day resembling Monday. The read of course is subjective as it is based on art and not hard and fast rules.

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