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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

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Nov 19 4:00 PM EST

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To: Chris who wrote (1501)	12/12/1998 2:48:00 PM
From: StockOperator	Read Replies (1) of 99985

Chris, I wouldn't be too hasty on your call for a market top. I will admit that on the surface theres a lot of negative news out there, however, because it is so obvious and expectations are so high for a retracement, I don't think we're going to get one. The VIX shows that volatility is rising and investors are getting jittery which to me is fuel for our next advance. Not only that but Friday offered the market a perfect opportunity to fall apart and it didn't. IMHO, this week will set the tone for the direction of the market. I'm going to watch the Russell very carefully. In order to have a rally from here we need full market participation especially the small stocks. Also take a close look at the chart pattern that has developed for the Russell 2000. Do you see signs of a breakdown or breakout? StockOperator

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