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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: Jack of All Trades who wrote (15671)	6/2/1999 9:26:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

Jeffrey, as to cash on the sideline, it is a necessity to keep a bull market alive; but it is only useful when it can be enticed to actually enter the market.this happens usually when prices go up amidst healthy skepticism. the japanese for instance are sitting on the biggest pile of sideline cash in the world and nevertheless had to cope with a 10-year mega bear market. as for support on the dow and other indices, prior highs and reaction lows, trend channels and longer term MA's all offer possibilities. which one of the potential support levels will ultimately hold, nobody really knows. i'm looking for divergences when support levels are visited as well as a change in sentiment. generally i think it is easier to identify major bottoms than major tops, which is why i am reluctant to say that we have seen the top. look at decisionpoint.com for some neat charts. regards, hb

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