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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

-0.8%

Nov 18 4:00 PM EST

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To: Challo Jeregy who wrote (10348)	4/9/1999 8:57:00 AM
From: donald sew	Read Replies (6) of 99985

Challo, I am also noticing alot of exuberance on SI and with the brokers I know, and yes that one broker(childhood friend) called again last night to rub it in my face. I still have my CLASS SELL signals and we should have some sort of negativity today or latest Monday. As mentioned in my latest index update, even if we close positive, as long as the DOW closes off its highs today it could be a hint of a reversal(SPINNING TOP). The strong exuberance yesterday is common just before some sort of reversal. I feel that the last minute IRA contributions and with Britain dropping rates skewed things to upside. Last minute IRA contributions will end next THURs. Britain(FTSE) right now is only up 7 points so that influence of that rate cut over there may be losing some steam. Also all the major global markets(GER/BRITAIN/FRANCE/JAPAN/HK) have CLASS SELL signals. The only question is how strong will this pullback be. My technicals hint that the forthcoming pullback may be small, and only a little dip, but all this exuberance is hinting to me that the pullback could be significant. seeya

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