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

To: Matthew L. Jones who wrote (26111)	9/16/1999 6:55:00 PM
From: Les H	Read Replies (1) \| Respond to of 99985

Yes, but it was up 150 points from the low of the day. The Dow managed to recover somewhat to close at its lower 90% trading band (10,738) while the S&P bounced from its lower band at 1296 (also in close proximity to the 200-day mov avg at 1298). The NDX bounced from the midpoint (i.e., the EMA at 2410) that centers its trading activity. While the Dow and S&P 500 are oversold, the NDX is mildly overbought. The odds would favor a bounce in the Dow and S&P 500, but in the past two weeks the stronger (more overbought) indices have rebounded harder.