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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

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Nov 14 4:00 PM EST

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To: donald sew who wrote (6305)	2/13/1999 8:51:00 PM
From: Gary Wisdom	Read Replies (1) of 99985

Don, one question on your last update One thing I've noted is how thin the market was this last week. Volume has been pathetic. Remember how the naz traded over a billion shares like 20 straight days in January? We no longer are getting that kind of sustained volume during this sell-off, which is leaving me guardedly optimistic. volume on Friday on the Naz was 860MM. That is pathetic for such a strong downside day. Anyway, I rarely see you mention volume in your analyses. Am I placing too much importance on it? Also, regarding the new highs/new lows, I've watched the indicator on the naz and it hasn't been nearly as bad as the NY. In fact, I personally don't place too much importance on this indicator as the fact that we don't get a large number of new highs these days is reflective of the fact that we've been rangebound for weeks. Thus, few stocks will make new highs in this environment, and since few people are throwing money at small caps and mid caps, of course they're going to make new lows. Anyway, just my two cents. BTW, read your stuff religiously. Thanks so much for taking the time to help everyone out with your knowledge.

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