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Strategies & Market Trends : MDA - Market Direction Analysis

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To: dennis michael patterson who wrote (11792)	4/22/1999 12:28:00 PM
From: donald sew	Read Replies (2) of 99985

Dennis, If the DOW does get above 11,000 before MAY that would just telegraph a sell, since it would require a huge surge again to get there that fast. Theres only a bit more than week left. Heres something that is getting me a bit concerned that it may be before MAY 5-6. Take a look at the TYX. It appears that there is a PENNANT forming, and it appears to be a BEARISH PENNANT. Regardless if it is bearish or bullish, it implies that there will be a big move in the interest rates, either up or down in the very near future and as early as the 1st part of next week. Hey LARRY or anyone, please give your opinion if this a a bearish or bullish pennant. Anyone who responds please give an explanation why you view one way of the other. I get tired of hearing exuberant comments without any explanation, like "11,500 NOW!!" or on the other side "BK", with no substance/supports. seeya

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