MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.70

-0.3%

Dec 8 4:00 PM EST

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To: sean sanders who wrote (4781)	1/28/1999 3:04:00 AM
From: Bull RidaH	of 99985

Sean, Thanks for highlighting the Dow H&S in place from this year's trading activity. Fresh calculations on a pattern projection lower give 2 numbers for the Dow March futures contract .... 8340 & 7775. Since the right neckline is lower, this pattern is the stronger version of the typical H&S pattern, and we should ultimately end up at 7775. But 8340 will prove to be a likely area for a significant 200+ point bounce before we see the final low for this move. Obviously, we need to take out 9080 (the recent low) to set this pattern in motion. With the Dow futures at 9175 as I write, we're not that far away! Regards, David

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