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Politics : Idea Of The Day
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To: J.T. who wrote (22328)1/13/1999 9:30:00 AM
From: J.T.  Read Replies (2) of 50167
 
I was first to highlight A/D INDEX negative non-confirmation on Jan 5 and why I was not bullish on market beond end of January until and/or unless I saw 21, 000 (2,100 was typo on Jan 5) net new advances confirmed the market was broadening out. In fact, it did just the oppositie. A/D Index went sideways at best while some market indices were running to new target levels. But like a magnet these advances were pulled back to lower support levels and nullified any meaningful higher break. SOX hit my 395 target, but we fell within 2% of 9770 DOW and 1290 SPX. It is doubtful we will see these targets now as the heavy hangover has commenced and pullled rug from underneath nirvana bulls. JT
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