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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: milesofstyles who wrote (28979)5/2/1999 3:12:00 PM
From: Doug R  Read Replies (1) of 79243
 
Milesov,

Here's one from a different thread that should probably be brought over here:

Message 8847102

As soon as 30 yr bond yield hit 5.65% on Friday, the market got ugly.
5.65% is still a pivotal number.
Along with the GDP #s, my broker informed me that DE warned their prospects for growth this year were not looking too bright. That knocked the legs out from under the cyclicals. Over the last few month or so the cyclicals have provided support when the techs weakened. That support may not be there for a while.
DE's impact may also have contributed to the breakdown of EAII from what was shaping up to be a very nice PGDCEB. It now appears that EAII will dip around another 1/2 point before it will struggle back up to 16 or more. The PGDCEB rules call for a stop one or two ticks below the signal day low. I'm sure there are some that didn't put one there and are still holding EAII. I'll be updating its technical progress nearly daily for the next few weeks. Of course, anyone else who would like to post their TA interpretation on it is very welcome to.
Funny how, even though the MDA thread regulars can't stand me >>LOL!<<, they're now all focused on interest rates in the last week.
I get a kick out of that bunch...>>gg<<

Doug R
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