MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 692.76

+0.5%

Jan 26 4:00 PM EST

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To: Terry Whitman who wrote (8025)	3/11/1999 10:34:00 PM
From: Lee Lichterman III	Read Replies (2) of 99985

I was just playing around with it a little more and found a mid term fork that shows possible middle tine support around 97 3/4 so if your actively trading it, watch it near there. I doubt it will hold and still feel that the 96 3/8 range is a better target but the fork did act as support during the september fall, the resistance point during the Nov 27 recovery and mid feb breakout. My guess is it may bounce briefly off this then resume the fall for the last point or so. I overlayed the charts and I guess I am blind as I didn't see much of a correlation. At times they ran contradictory to each other and then both fell in unison from late August to October 8th. What am I missing? Lee

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