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

To: Les H who wrote (21784)	8/2/1999 1:48:00 PM
From: TWICK	Respond to of 99985

Looks more like a short lived rally to me. Good time to sell into strength and buy short positions IMO. Doubt that the NAPM numbers are enough to convince increased buying in to the markets. From briefing.com: Traders cheered a weaker than expected NAPM report... Falling to 53.4% in July from 57.0%, the total NAPM index helped cool fears of a Fed rate hike as economists were expecting a 56.0% reading... The bond, which had been down nearly a point at the time of the release, made up lost ground in a hurry, and is currently unchanged for the session, bringing its yield back to 6.10%... Sure looks like we hit the day's high early and it's down she goes from here. NYSE: Advancers 1337 Decliners 1389 Volume 285 mln NASDAQ: Advancers 1681 Decliners 1658 Volume 333 mln Twick