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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 660.19

-0.8%

Nov 18 4:00 PM EST

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To: Lachesis Atropos who wrote (19219)	2/14/1999 11:26:00 PM
From: Johnny Canuck	Read Replies (1) of 68095

Hi Lachesis, I hope you are enjoying President's day. Just an observation, on Friday, the 30 year bond yields solidly broke the 200 SMA.In addition, the percentage of stocks more than one standard deviation below their 200 SMA closed just below the 200 SMA for that indicator at 42 (200 SMA = 42.23). That indicator has been rising steadily for the last little while. Both are indications of some extreme technical damage to the market's intermediate trend. As a result, I will not initiate any long positions. Time to go to cash or shorts only if the technicals do not reverse. Harry

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