MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: HairBall who wrote (1200)	12/10/1998 2:04:00 PM
From: donald sew	Read Replies (1) of 99985

LG, Now that I have the right figures, that 8870 was the lows for the previous did, this changes things a bit. My short-term technicals are now in the lower mid-range which means that the DOW has plenty of downside potential to take out the 8870 support to the downside. Just from a mathematical calculation based on my short-term technicals, the DOW could drop 175-275 points more (calcualated from 8900) before it becomes a CLASS BUY. So, right now I am torn between my cycle analysis and my short-term analysis where one is saying that we should pop up soon while that other says that a break of 8871 and we are heading significantly lower. For now Im leaning more towards 8870 holding and we pop in the next few days but staying in the parameters of the STAIRSTEP(8870-9100). Whats your feeling with todays action. Seeya

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