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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (16263)	6/7/1999 8:01:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 99985

Donald; What is your take on the NDX , so far in Europe this morn most of our Blue Chips are up..our futures are just about flat but I'm thinking at least for today we could follow through Fridays upswing and get more upside. I have seen this market do what it did on Friday more than once and Europe take it as a buy signal then get slam dunked, things look very ify this morning to me, some one with big money has a plan but they are playing their cards very close to their chest at this point and I can't read em. Jim

To: donald sew who wrote (16263)	6/7/1999 2:48:00 PM
From: Chip McVickar	Read Replies (1) \| Respond to of 99985

Hello Donald, The pitchfork work suggests that 2540 on the Nas is easily possible and would be a difficult area to get above. Draw a flat support-resistance line backwards from 2540 and I see a lot of activity. But if this middle tine is crossed 2570 is a possibility, but hard to take seriously.....after looking at the rise from last October. If I were trading the NAS.....I'd be watching 2540 very carefully to see where it goes? Thanks for the Bear Flag chart notes.... Chip