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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

-0.8%

Nov 18 4:00 PM EST

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To: bobby beara who wrote (7368)	3/2/1999 11:46:00 PM
From: Jack Luo	Read Replies (3) of 99985

bobby, My reading of nasdaq weekly chart tells me that we may have one more high before the market starts to decline. There were 4 nasdaq top-bottom cycles in last 3 years, each cycle lasts about 9 months with 6 months up and 3 months down. It's only 4 months from last nasdaq bottom in Oct. 1998 to recent top in Feb. Your chart of OEX most actives looks very interesting. I think that we will see wave 5 either in the end of March or in early April. However, the bad news in last a couple of days makes me very nervous. If bad news continues coming in next a few days, the market may continue this decline trend till it hits the bottom. BTW, you did a great job on these charts. Keep up the good work. Jack

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