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

To: John Madarasz who wrote (31231)	10/24/1999 5:48:00 PM
From: donald sew	Read Replies (1) \| Respond to of 99985

John, After some thought this weekend, the forthcoming short-term pullback may have important hints as to the direction of the market. If the market does sell off strongly and drops below the previous lows, then the downtrend is still intact. However if there is is only a retest of the previous lows that could mean a double bottom and possibly a "W" formation, implying bullishness. The third senerio, is if the lows are not retested, such would form a higher low. Since a LOWER HIGH is likely, that would either imply that an uptrend is starting or that the market is startiing to TRIANGULATE. Triangles are commonly formed prior to important announcements. If a Triangle does form I would suspect that it would be due to the FOMC MEETING and the APEX would also probably target the FOMCE meeting also(11/16). seeya