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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 (9988)	4/6/1999 2:51:00 PM
From: bearshark	Read Replies (1) of 99985

Don: I looked at today as a chance to build momentum for a decline. I still think there is a good possibility of that in the next 80 minutes. I was waiting for the volume A/D to fall apart. We had the mid-afternoon move up which should be wrong. So, we should pick up more negative volume in the last hour. My belief is based on the attempted move out of the triangle on the INDU on poor volume. I was looking for a move down to about 9680 to make a move back up to 10400 viable. However, the INDU moved out of the pattern too early and without conviction. Until the moneyflow pattern on the INDU changes, it will be hard to see the popular indices decline. Well, let's see if we have the last hour volume selloff.

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