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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 11 4:00 PM EST

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To: Vitas who wrote (10500)	4/10/1999 9:09:00 PM
From: j.o.	Read Replies (1) of 99985

Just last week we had a number of people looking for a nice medium term downtrend. Now the market has (I suspect) put on such a lovely show of strength in the last few days that no one suspects that Friday might have created a medium-term top in the market? Vitas - Thanks for the mentioning that CPQ might just be the straw that broke the camel's back. I think that this is exactly the case. It seems that we have extended up against the top of the uptrends in all major indices, and we might just have a big snowball downward on Monday. (For examples of these uptrends I respectfully refer to the MDA website, where I have found excellent content provided by some people who know far more than I) I am thankful that people are not talking about selling the open - maybe I have a chance at reasonable levels. I, too, wanted to squeeze the S&p up to 1360 - but I think that 1360 is now a very long way off indeed. Call me "Trigger"-Happy, but I look forward to meeting the dip-buyers on Monday! Anyone have any thoughts for or against CPQ acting as a trigger? John PS - Many thanks to all of the chart-masters! The site is a great resource.

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