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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: pater tenebrarum who wrote (16073)	6/5/1999 12:40:00 PM
From: bobby beara	Read Replies (1) of 99985

Heinz, i must admit the low volume is a concern to the bullish case however one of my favorite indicators has been selling off for 6 weeks and reversed up this week decisionpoint.com This is normal time span for the oscillator to be in a downtrend before reversing up and at the end of this downtrend we have seen some real capitulation selling in the net nutz and a scarey support break on Aol. I think it is way to premature for people to think this is a rally to short on Monday. You got the SPX coming off very oversold RSI in the 20's and testing 1282 support and holding on numerous times. Like j juiceman sezs, the bears already had their quackeybits, time for the bulls for lunch bunch -g- a shorting opportunity may show up by mid/late june when the bulls have orgied and then think about the fed taking away the spiked punch bowl -g- bwdik

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