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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

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Nov 19 4:00 PM EST

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To: James Strauss who wrote (15447)	5/31/1999 3:30:00 PM
From: James F. Hopkins	Read Replies (1) of 99985

Well Back to MDA, Friday I was really alarmed at the close as Futures fell off a very steep cliff at the very last minute when program trading could not kick in. ------------------- S&P droped to 1289, and the NDX to 2064, while we closed at 1301 and 2089, this put them way below cash value and and looked very ugly for the market. ------------------ Volume is light in Frankfort today but most of the U.S. stocks are trading up in spite of that ugly fall in the futures. The Futures themself have come back a lot on Globex, last I looked was 1300, and 2085, still below the cash value but not nearly as bad, and it could fix itself by tomorrow Morning.. ( I'll be surprised if it does but I don't rule it out and the market is always doing things that surprise me, or any one else who is logical. -------------------- Bottom line is things don't look as ugly as they did at Friday's close , but they still don't look bullish. We may squeak by with a rather flat week. Jim

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