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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.70

-0.3%

Dec 8 4:00 PM EST

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To: James Strauss who wrote (1224)	12/10/1998 5:01:00 PM
From: donald sew	Read Replies (2) of 99985

Jim, >>>>> .. It's growing... Now much higher than 40... A sign of a nervous market... If we start to see New Lows > 100, Watch Out!!!<<<<< Agree, however the NEW HIGHs/LOWs are normally a leading indicator and could lead the market by months. If you check the MAY/JUNE period the NEW LOWs got above 100 consistently, but the DOW still had its strong runup in JULY before tanking. Also, the NEW HIGHs peaked and started to decline around mid-MARCH, but the market did not peak and pull back significantly until mid-APRIL. I agree, that there is growing negativity, but Im not convinced that it will lead to a huge decline and I will still stick to my TRADING RANGE TREND of 800-1000 points for the next few months(probably the 1st quarter of 1999). Seeya

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