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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: donald sew who wrote (8471)	3/19/1999 7:10:00 AM
From: Haim R. Branisteanu	Read Replies (1) of 99985

Donald a while back I posted that I anticipate the SPX to move to the 1316 level as first resistance and possible to 1323-26 level. Based on the media advertising the DOW 10,000 and the weakness in MMM, IBM and HWP yesterday, I do not see a major problem to touch those levels today. The main issue is will the market reverse today, or will it wait until after option expiration. IMHO SPX 1300 was more meaningfull than DOW 10,000. The bad news are that it was achived mostly with IP, AA, XON and CHV all indicators of an end of a bull move. BWDIK Haim

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