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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.93

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Nov 14 4:00 PM EST

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To: Challo Jeregy who wrote (2481)	12/21/1998 2:27:00 PM
From: Jorj X Mckie	Read Replies (1) of 99985

CJ, Same sitch that I described for the NASDAQ and DJIA also applies to the S&P. It gave a triple top buy signal today, and even though the S&P is broadbased, you would have to evaluate whether it was a smaller number of stocks that was carrying the S&P to these new heights. So we are still under the caution flag and P&F would dictate that you would wait for at least the Optionable Bullish Percent (BPOPTI) to reverse before lifting the flag. This would be under the idea that the BPOPTI is a leading indicator for the NYSEBP. So until we get some reversals up on the big guys, these other buy signals should be viewed on a shorter term basis and more likely directed toward specific stocks that have positive relative strengths and strong fundamentals. JXM P.S. Debra - OK, I'll do it.

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