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

To: dennis michael patterson who wrote (21914)	8/3/1999 6:40:00 PM
From: donald sew	Read Replies (2) \| Respond to of 99985

Dennis, Today was the BUY-IN for my CLASS 1 BUY signals. Although the market showed weakness, the major indices did close off their lows and SPINNING TOPs/DOJIs were formed, implying a possible reversal. For didcussion, Lets say that the major indices do not bounce and the selling continues tomorrow, and my CLASS BUY signals are negated. It would be the first time in the 4 years of data that the major indicies continued to sell-off with my short-term technicals so low. Such could just be a one time anomoly or a sign that something worse is down the road like the beginning of a BEAR MARKET. The past 4 years have been during a bull market and even during last years strong selloff, there was still some sort of a meaningful bounce when my short-term technicals were so low. Yes it could just be an anomoly or it could also be a hint of something worse like a change in the long-term trend. So if we dont bounce tomorrow, even a weak bounce and selling continues, then I will become increasingly cautious/bearish in light of the possibility that the long-term trend may be changing for the worse. seeya