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

To: Joan Osland Graffius who wrote (50042)	5/9/2000 9:50:00 PM
From: Benkea	Respond to of 99985

heinz: washingtonpost.com

To: Joan Osland Graffius who wrote (50042)	5/9/2000 9:57:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Joan, the Nikkei looks terrible technically imo. it broke through the 200-dma, tested it twice from below, and turned down from there. the 200-dma has in the meantime flattened and now begun to incline downwards. SNE, as a proxy stock, has broken the neckline of a giant h&s today. likewise a European telecom bellwether, BTY has today broken below a previous reaction low dating from February. now just maybe bearish sentiment has become a bit thick, but note that the deleveraging process alluded to by Soros in his most recent remarks seems to have spread to credit market players: Message 13652852 i believe this is a significant event...it illustrates the increasing stresses in the credit markets due to the recent blowout in spreads. more on Soros and gloom and doom from an astute observer of the credit markets here: prudentbear.com regards, hb