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

To: Les H who wrote (29217)	10/12/1999 6:29:00 PM
From: Matthew L. Jones	Respond to of 99985

My quote service shows that NDZ9 closed at -52.8! Pretty down, wouldn't you say? Matt

To: Les H who wrote (29217)	10/12/1999 6:29:00 PM
From: donald sew	Respond to of 99985

Hi, With INTC coming out with bad news, it is quite obvious that such will add to the negativity. I will presume that some will not turn bearish and those calling for a crash may also increase. At this time I feel that there is a good chance that there will be at least a retest of the previous trough, but I also thought that was possible even without bad news. There are various supports which where broken to the downside today, but I the main one will be the previous trough at 10080(DOW) & 1256(SPX). Even in light of the increased negativity I will not automatically assume that those supports will be broken for sure. Heck, we could also get a DOUBLE BOTTOM like we did last OCT, which turned out to be an outstanding "W" shape rebound to new highs. I am wondering if this expiration week will limit the downside, with more negativity next week. But with the INTEL news, it does look quite negative this week, and we also have the PPI on FRIDAY and the TRADE DEFICIT next week. seeya