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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 672.07-1.7%Nov 13 4:00 PM EST
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To: John Pitera who wrote (10702)4/12/1999 3:15:00 PM
From: donald sew  Read Replies (1) of 99985
 
John,

>>>> The market started to broaden out on the latest cyclical turning point and if it is not to be a high on the 8th of April, it may turn out to be an ending of cyclic pressure to the downside and the markets will rally for several weeks. <<<<<

I have checked the 9-month cycle top over many years, and it could be
late as much as a month, but I normally use the time frame of
+/- one week.

As I previously mention, if I ignore the possibility of last minute
IRA contributions, the technicals (especially the market internals) are suggesting that this bull run will continue. The next main resistance would be the apex of the MAIN BIG RISING WEDGE which is around 10,500. I cant guess right now if it would break that to the upside, so I will have to re-examine it when the time comes.

I do not think it would be prudent to ignore the possible last minute
IRA contribution, which could be skewing things to the upside. So for
the time being I am not going long or short.

If we do start selling off some as hinted by my CLASS 1 SELL signals, and the market internals start to deteriorate quickly from todays much improved levels, then that would be a hint that it was the IRA
moneys skewing things.

Seeya
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