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

To: GROUND ZERO™ who wrote (44066)	3/24/2000 9:44:00 PM
From: Jorj X Mckie	Read Replies (2) \| Respond to of 99985

I don't know enough about how the currencies work to really understand all of the ramifications, but the P&F chart for the June Dollar is very clearly on a sell signal...interestingly, so is the yen. The DJ 20 bond average hasn't given any real indication that it is a buy yet, but it looks to have some strength. Personally, I think that conjecture that the fed will raise another .50 basis points will provide a nice wall of worry to climb.

To: GROUND ZERO™ who wrote (44066)	3/24/2000 9:47:00 PM
From: Michael Watkins	Read Replies (2) \| Respond to of 99985

I think the US $ will continue to be worth watching here, looking at the weekly chart its butted up against resistance dating back to 1987, and the prior swing high in June 1989. On a daily chart its already failed a test of top today, Friday, by breaking 104.50. So, next couple of days should confirm if this is the end of the daily trend and begining of a downswing, or not. Hmnn. I'm sticking with my topping call made early this am, the VIX moved up too strongly today while the market was racing ahead. That and steady downward pressure on TICK on both NYSE and Nasdaq seemed like a decent enough signal to me. Subjectively, on the 5 minute spoo chart there was a great shooting star on the 11am bar -- these formations are almost always fakes now, since everyone sees them, but this one was confirmed. Doesn't happen that much any more. Meaningful? In the big picture, no. But interesting.