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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: James Strauss who wrote (253)	12/4/1998 7:48:00 AM
From: Patrick Slevin	Read Replies (2) of 99985

Thank you for the Summation Index explanation and link. <however, it is also likely that a significant market bottom is a few weeks or months away.> So it can be a bit early, I see, as it rounded out and started to rise around 9/10/98 before the Senior averages hit the cellar in October. I most recently took a renewed interest in it last Spring because I was reading Gene Inger at the time and he refers to it constantly. In the following link he makes a brief comment about what he thinks of it at this point in the game. tfc.com It's down near the bottom; excerpted, it says the following.... the McClellan Oscillator is now at a -54, interestingly working-off overbought conditions without much pressure (of significance) on the market. That can be bullish in time. (At the moment, a series of nominal negative changes is a daily basis warning a rally will soon fail.)

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