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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: HairBall who wrote (5497)	2/5/1999 11:29:00 AM
From: donald sew	Read Replies (1) of 99985

INDEX UPDATE ============================================== Up to right now here are the positions of various indexes per my short-term technicals. Please understand that it really depends on the close but if the market was to close here: DOW = MIDRANGE NAZ = CLASS 2 BUY SPX = OVERSOLD approaching CLASS 2 BUY OEX = OVERSOLD approaching CLASS 2 BUY RUT = CLASS 2 BUY BKX = CLASS 2 BUY DRG = UPPER MIDRANGE SOX = OVERSOLD RANGE DOT = LOWER MIDRANGE APPROACHING OVERSOLD The position of these various indexes implies that for this specific short-term downswing, the pullback should be limited. The DOW may not even set lower lows however the SPX/NAZ have just set minor lower lows just slightly, and the RUT has set a clear lower low. Seeya

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