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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 694.04

+0.7%

Jan 9 4:00 PM EST

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To: donald sew who wrote (10242)	4/8/1999 10:41:00 AM
From: HairBall	Read Replies (3) of 99985

donald: Well, so far just about all my expectations in my MDA UPDATE last night are on track. Of course, the day is young...<g> The TYX.X is moderating and looks like it may well find support above the (dark yellow) support line which was the recent low. Looks like the RUT may well head down into the lower half of its trading envelope. The COMPX is beginning to give back some of the exuberance as of late and is struggling around the support line from the highs of Jan. (dark yellow) The UTIL is moderating and putting in some retrace from yesterday before it heads lower. Of course, it has resistance at the centerline of its trading envelope and the center tine of it s/t rising fork. The TRAN looks like it is going to negate the Bullish Pennant. That portends lower prices to come. The DJI (Dow Actual Data) is stalling or pausing, depending on weather it can mount follow through are not. Last nights comments and my charts break down, can be found under my charts at the MDA Web Site: homestead.com BWDIK Regards, LG

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