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

To: Lee Lichterman III who wrote (31653)	10/28/1999 9:00:00 AM
From: Jack T. Pearson	Read Replies (2) \| Respond to of 99985

Looks like GDP is increasing about 5-6 times faster than wages. Is that good or bad?

To: Lee Lichterman III who wrote (31653)	10/28/1999 10:22:00 AM
From: pater tenebrarum	Read Replies (2) \| Respond to of 99985

Lee, that's the thing, the market is rallying on what is actually BAD news...now either this is a giant headfake, in which case we'll probably go to a negative tick during the day and sell off later, or the market is signaling that it has priced in one more rate hike and it's up and away from here into the seasonally strong period. there are some wave counts that argue for a strong rally from here, and the fact that negative surprises from INTC, IBM, HWP couldn't kill this market speaks volumes imo. however, there is an ST cycle that points to a lower low to be reached in mid December. maybe it will still play out, but the strength in the financials argues otherwise. regards, hb