MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.63

+0.4%

Nov 19 4:00 PM EST

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To: Moominoid who wrote (9622)	4/1/1999 10:08:00 AM
From: donald sew	Read Replies (2) of 99985

David, >>>> Going by Globex, looks like SPX will bounce off the lower trend line from 8th Oct through recent lows again today.... <<< Globex was up about +10 prior to the open. In light of that, I was expecting a much stronger opening, although the NAZ opened strongly. Considering that the DOW pulled back about 250 points in 2 days, some sort of a bounce is not out of line. My short-term technicals are in the mid-range so anything could happen from here. The DOW did produce a LOWER HIGH with the recent peak around 10,030, so if this bounce continues it would need to surpass 10030 to negate this pullback or trade flat for an extended period of time. Interesting, as I am typing, the NAZ has declined about 20 points off its high so far. Seeya

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