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

To: pater tenebrarum who wrote (49783)5/8/2000 2:11:00 PM
From: James Strauss  Read Replies (1) | Respond to of 99985
 
Sinking Sentiment...
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Heinz:

I'm getting the feeling, as I read various threads, that pessimism is building... From a contrarian point of view this is bullish... But, we are not seeing the panic selling that accompanies increasing pessimism... The response to CSCO, and DELL's earnings should be a good clue as to where the market wants to go...

Jim



To: pater tenebrarum who wrote (49783)5/8/2000 2:14:00 PM
From: jmootx  Read Replies (1) | Respond to of 99985
 
Heinz

The 1929 Dow and this years NASD continue to follow in trend. The percent retracement from bottom of Black Tuesday, 1929, to the first full rally peak was 38%. The ensuing decline off that peak brought the Dow retracement down to 16%.

I have the recent NASD rally peak of 3982 as a 37% retracement. That would suggest by this opinion that 3500 would be challenged in this downtrend.


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