MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.56

-1.5%

4:00 PM EST

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To: bobby beara who wrote (15495)	6/1/1999 4:03:00 PM
From: j.o.	Read Replies (2) of 99985

Hey bobby - We're at a key intraday point in the S&P500...and will be closing there. 1295 in the June future was the starting point for the breakdown this morning. Any thoughts on today's action? It looks like we snapped back in the DOW from oversold, but need to move higher tomorrow if it's to mean anything. One positive is that we moved sharply below, and then closed back above the 50-d EMA in the DOW. I am not sure if that's just because of short-term oversold conditions. I suspect we're not out of the woods yet. whaddya think? j.o.

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