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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.08

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Nov 18 4:00 PM EST

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To: fedhead who wrote (8859)	3/23/1999 8:16:00 PM
From: donald sew	Read Replies (1) of 99985

Anindo, >>>> One also needs to compare the new lows with the number of new lows during the last dip in February. If the number of new lows during this dip has decreased that is a positive divergence. All the bears in this thread could someone guess as to what the catalyst will be that will make this market correct significantly.<<<< The NEW LOWs last FEB were lower than now, however I think the better comparison is the peak around JULY, and right now the NEW LOWs are approximately that same as in JULY. You are correct about a positive divergence under those circumstances. The NEW LOWs got as low as 1200 during last years pullback, and I do not believe we will get that low this time. You are correct that many have turned bearish, just the same way when the market was approaching 10000 many were bullish. I am not as bearish as I was last summer before the that pullback, but there could be a 5%-10% correction in APRIL. I have stated my reasons for the pullback in previous posts. seeya

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