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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.03

+1.0%

Nov 21 4:00 PM EST

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To: Daflye who wrote (6680)	2/19/1999 10:20:00 AM
From: Lee Lichterman III	Read Replies (3) of 99985

OK, I am confused. We have had a TRIN between .8 and 1 most of the morning so far and a negative TICK around 500 to 900. These levels were causing massive drops in the indexes the last few days yet we are holding or only slightly dropping so far. What gives? I am looking at an intra day pattern for yesterday that looks a lot like a bearish wedge on the 12 and 24 minute charts. Anyone found the few stocks that are holding this thing up yet. Seems to me the market is being sold off but something must be holding the indexes up. If Dow's wedge proved true and broke today (which I doubt) it would break around 9325 and fall to 9150. PS - I saw your post about the VW Jetta commercial, glad to see I am not the only one that loves that commercial. The guy that thought that up was a genius. Good Luck, Lee

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