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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: donald sew who wrote (1498)12/12/1998 7:49:00 PM
From: Investor2  Read Replies (1) of 99985
 
Re: "...... what i feel is that we are in a rolling correction... djia -> spx -> naz.<<<< So, can we conclude that once the NAZ gives way - the market may go down in unison and harder?"

I like the idea of the rolling correction, but I think that the NAZ gave away first, with the major declines up through October. We are now way past the NAZ correction, since it is essentially at all time highs. I do see the current weakness in the DJIA, primarily due to the presence of cyclicals in the Dow reacting to the slowing economy.

Best wishes,

I2

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