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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

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Nov 21 4:00 PM EST

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To: donald sew who wrote (7695)	3/7/1999 10:34:00 AM
From: Robert Graham	Read Replies (1) of 99985

On the interest side the media has not and I have not yet heard on SI mentioning that on a intraday basis interest rates rebounded about 40% on FRIDAY. It may mean nothing... I think whenever there is a market reversal, even just an apparent one, I would expect money to move back into the market. This will have its impact on funds that are being held in bonds and particularly money markets. Applying TA to the interest rates, we should keep in mind that even with the retreat in rates the uptrend is still intact. For the short term trader, I think what is important is the tolerance level the market has to interest rates. It may turn out be a function of the magnitude of change rather than its absolute value. Any thoughts on this subject? Bob Graham

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