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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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To: Syd Deem who wrote (4845)	1/28/1999 10:43:00 PM
From: bobby beara	Read Replies (1) of 99985

End of day thoughts that could extend the top for a few days. SPX 9 days rsi 61, not overbought. McCllellan Oscilator in oversold area and has a tight little spiral over the last week to match the indecision in the major indexes, volitility should increase (which direction? -g-) Dow flag has the looks of a bull flag. OEX/spx at the top of their triangles a break to the upside tomorrow would change these into bullish ascending triangles. Compx could be interpreted as a bullish ascending triangle with a false breakout on the 20th and a target of 2600. Suddenly everybody is bearish, so we must have one more rally left -g- I think Yippie Yahoo needs to get back to old highs -g- bb

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