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

To: Fun-da-Mental#1 who wrote (23894)	8/26/1999 11:24:00 AM
From: dennis michael patterson	Respond to of 99985

NEWS FLASH!! PEI responds to Patterson e-mail! They recognize the power of the MDA thread! Here is the exchange: >---------- >From: Dennis Patterson[SMTP:dpatters@crab.rutgers.edu] >Sent: Wednesday, August 25, 1999 7:02 PM >To: James Smith >Subject: Re: MA on the SPX > >Well James, > >We are way above 1368, Marty's outer limit. What sayeth the Man? > >Regards, > >Dennis Patterson --------------------------- The answer: > The Daily Reports show the next higher reversal at 1378.30. Yesterday's High was 1378.40 (SPU9). Yesterday was also 11 days up. Bull mkt counts are 7,11,14,&21. Therefore yesterday might have been a Reaction High---even though the mkt went higher than expected, it may yet fall apart. Only if you see New Highs on the S&P---confirming the New Highs on the DOW--would we become less bearish on the stock market. Keep one eye on DLR/YEN. Currently the dollar is experiencing a reaction rally off an oversold condition, but once that fails, another dollar selloff could cause real havoc in Japan....which will spread to other stock mkts globally....including the S&P. > >