MDA - Market Direction Analysis Message Board

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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: donald sew who wrote (1548)	12/13/1998 8:18:00 AM
From: StockOperator	Read Replies (1) of 99985

Donald, I agree that the case for a down market is much easier to make at this time than the reverse. Jim Strauss makes a good case that tough to argue with. But still based on the way the patterns are developing on the charts and market psychology, I believe the direction of the markets is up. Back in October when the markets were going down all the major averages broke through major support except the Dow, which was signaling the true direction of the market. That was back when Ralph Acompora was calling for 6500. I believe that the NASDAQ is now showing us which way this market is going. Let me finish off by saying that I think that this week is critical for the averages especially the RUT. If this index breaks, I'll have to change my position. StockOperator

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